HB 987: Public Deposits
GENERAL BILL by Botana
Public Deposits; Provides requirements for credit unions that are qualified public depositories; provides that public deposits in credit unions by specified trust departments or trust companies are exempt from certain requirements & protection; prohibits CFO from designating credit unions as qualified public depositories unless certain requirements are met; requires CFO to withdraw from specified collateral agreements under certain circumstances; prohibits credit unions from being designated as qualified public depositories if CFO withdraws from collateral agreements; requires specified credit unions to return all public deposits in credit unions within specified timeframe; authorizes CFO to limit amount of public deposits in credit unions for specified purpose; provides requirements for suspension or disqualification of credit unions as qualified public depositories; authorizes CFO to issue cease & desist order & corrective order to credit unions upon certain determinations.
Last Action: 5/5/2023 House - Died on Second Reading Calendar
Bill Text: PDF
• Referred to Insurance & Banking Subcommittee
• Referred to State Administration & Technology Appropriations Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
• 1st Reading (Original Filed Version)
• Added to Insurance & Banking Subcommittee agenda
• Favorable by Insurance & Banking Subcommittee
• Reported out of Insurance & Banking Subcommittee
• Now in State Administration & Technology Appropriations Subcommittee
• Added to State Administration & Technology Appropriations Subcommittee agenda
• Favorable by State Administration & Technology Appropriations Subcommittee
• Reported out of State Administration & Technology Appropriations Subcommittee
• Now in Commerce Committee
• Added to Commerce Committee agenda
• Favorable by Commerce Committee
• Reported out of Commerce Committee
• Bill released to House Calendar
• Added to Second Reading Calendar
• Died on Second Reading Calendar
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