Senate Bill 2300

    Florida Senate - 1998                                  SB 2300

    By Senator Laurent





    17-1741-98                                              See HB

  1                      A bill to be entitled

  2         An act relating to conversion of credit unions;

  3         prohibiting the Department of Banking and

  4         Finance from approving applications for

  5         conversion of certain federally chartered

  6         credit unions to a state charter under certain

  7         circumstances; providing an exception;

  8         providing for future repeal; providing an

  9         effective date.

10

11  Be It Enacted by the Legislature of the State of Florida:

12

13         Section 1.  (1)  Except pursuant to an order of general

14  application issued by the Comptroller after notice to and with

15  the concurrence of the Speaker of the House of Representatives

16  and the President of the Senate, the Department of Banking and

17  Finance shall not approve an application by a federally

18  chartered credit union, doing business in this state on the

19  effective date of this act, for conversion to a state charter

20  pursuant to s. 657.066, Florida Statutes, unless a completed

21  application for conversion was on file with the department on

22  February 25, 1998.

23         (2)  This section is repealed July 1, 1999.

24         Section 2.  This act shall take effect upon becoming a

25  law.

26

27            *****************************************

28                          HOUSE SUMMARY

29
      Unless authorized by the Comptroller by general order,
30    prohibits the Department of Banking and Finance from
      approving applications of federally chartered credit
31    unions for conversion to a state charter for applications
      filed after February 25, 1998.
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