HB 1559: Public Deposits
GENERAL BILL by Harding ; Rizo
Public Deposits; Prohibits CFO from designating credit unions as qualified public depositories unless certain requirements are met; prohibits credit unions from being designated as qualified public depositories if CFO withdraws from collateral agreements; requires return of all public deposits in credit union within specified timeframe under certain circumstances; authorizes CFO to limit amount of public deposits in credit unions; revises losses for which CFO may sell securities to protect public deposits; authorizes CFO to issue cease & desist order & corrective order to credit unions upon certain determination; specifies losses against which certain solvent banks, savings banks, savings associations, & credit unions must guarantee public depositors; revises duties & responsibilities of qualified public depositories as result of specified mergers, acquisitions, or consolidations.
Last Action: 3/14/2022 House - Died in State Administration & Technology Appropriations Subcommittee
Bill Text: PDF
• 1st Reading (Original Filed Version)
• Referred to Insurance & Banking Subcommittee
• Referred to State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
• Added to Insurance & Banking Subcommittee agenda
• Favorable by Insurance & Banking Subcommittee
• Reported out of Insurance & Banking Subcommittee
• Now in State Administration & Technology Appropriations Subcommittee
• Indefinitely postponed and withdrawn from consideration
• Died in State Administration & Technology Appropriations Subcommittee
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