CS/SB 1612: Financial Institutions
GENERAL BILL by Banking and Insurance ; Grall
Financial Institutions; Requiring state financial institutions to pay a semiannual assessment for specified time periods; authorizing the office to issue a specified certificate under certain circumstances; authorizing elected officers, directors, or committee members of a credit union to be reimbursed for certain expenses, etc.
Effective Date: 7/1/2025
Last Action: 3/19/2025 Senate - CS by Banking and Insurance read 1st time
Bill Text: Web Page | PDF
Last Action: 3/19/2025 Senate - CS by Banking and Insurance read 1st time
Bill Text: Web Page | PDF
Senate Committee References:
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Bill History
Date Chamber Action 2/27/2025 Senate • Filed
3/6/2025 Senate • Referred to Banking and Insurance; Appropriations Committee on Agriculture, Environment, and General Government; Fiscal Policy
3/10/2025 Senate • Introduced
3/12/2025 Senate • On Committee agenda-- Banking and Insurance, 03/17/25, 1:30 pm, 412 Knott Building
3/17/2025 Senate • CS by Banking and Insurance; YEAS 7 NAYS 0
3/19/2025 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
• Now in Appropriations Committee on Agriculture, Environment, and General Government
• CS by Banking and Insurance read 1st time
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CS/SB 1612, Committee Substitute 1 (Current Bill Version) Posted 3/19/2025 at 2:55 PM
Bill Text: Web Page | PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills H 1549 (c1) Financial Institutions Maggard Identical Last Action: 4/2/2025 H Added to Second Reading Calendar 
Citations - Statutes (7)
Citation Catchline Location in Bill Location In Bill Help 655.047 Assessments; financial institutions. Page 1 (pdf) 655.414 Acquisition of assets; assumption of liabilities. Page 2 (pdf) 657.002 Definitions. Page 4 (pdf) 657.028 Activities of directors, officers, committee members, employees, and agents. Page 4 (pdf) 657.043 Reserves. Page 4 (pdf) 658.235 Subscriptions for stock; approval of major shareholders. Page 5 (pdf) 658.25 Opening for business. Page 5 (pdf) -
SB 1612, Original Filed Version Posted 2/27/2025 at 4:11 PM
Bill Text: Web Page | PDF Analyses: Banking and Insurance (Pre-Meeting) 3/14/2025 (pdf)
Banking and Insurance (Post-Meeting) 3/20/2025 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills H 1549 Financial Institutions Maggard Identical Last Action: 4/2/2025 H Added to Second Reading Calendar
Committee Amendments (2)
Amendment Sponsor Filed Last Committee Action Format 523462 - Amendment
Delete lines 92 - 118 and insert:Banking and Insurance
(Grall)3/14/2025
12:56 PMReplaced by Substitute Amendment
3/19/2025Web Page
PDF
517760 - Substitute Amendment (523462)
Delete lines 92 - 118 and insert:Banking and Insurance
(Grall)3/17/2025
12:45 PMReplaced by Committee Substitute
3/19/2025Web Page
PDFCommittee Votes (1)
Date Committee Result 3/17/2025 1:30 PM Banking and Insurance 7 Yeas - 0 Nays Citations - Statutes (7)
Citation Catchline Location in Bill Location In Bill Help 655.047 Assessments; financial institutions. Page 1 (pdf) 655.414 Acquisition of assets; assumption of liabilities. Page 2 (pdf) 657.002 Definitions. Page 4 (pdf) 657.042 Investment powers and limitations. Page 4 (pdf) 657.043 Reserves. Page 5 (pdf) 658.235 Subscriptions for stock; approval of major shareholders. Page 5 (pdf) 658.25 Opening for business. Page 6 (pdf)