SB 1318: Public Deposits
GENERAL BILL by Hutson
Public Deposits; Providing requirements for credit unions that are qualified public depositories; providing that public deposits in credit unions by specified trust departments or trust companies are exempt from certain requirements and protection; prohibiting the Chief Financial Officer from designating credit unions as qualified public depositories unless certain requirements are met; revising the losses for which the Chief Financial Officer may sell securities to protect the integrity of the public deposits program; authorizing credit unions to be reinstated, or to reapply for qualification, as qualified public depositories under specified circumstances; authorizing the Chief Financial Officer to issue a cease and desist order and a corrective order to credit unions upon certain determinations, etc.
Last Action: 3/14/2022 Senate - Died in Banking and Insurance
Bill Text: Web Page | PDF
- Banking and Insurance (BI)
- Appropriations Subcommittee on Agriculture, Environment, and General Government (AEG)
- Appropriations (AP)
Bill History
| Date | Chamber | Action |
|---|---|---|
| 12/20/2021 | Senate |
• Filed |
| 1/12/2022 | Senate |
• Referred to Banking and Insurance; Appropriations Subcommittee on Agriculture, Environment, and General Government; Appropriations -SJ 119 |
| 1/18/2022 | Senate |
• Introduced -SJ 119 |
| 3/12/2022 | Senate |
• Indefinitely postponed and withdrawn from consideration |
| 3/14/2022 | Senate |
• Died in Banking and Insurance |
