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ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2000 SESSION
HB 573 Credit unions; fiduciary accounts.
Introduced by: L. Preston Bryant, Jr. | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Credit unions; fiduciary accounts. Provides credit unions with the same protections and authorizations regarding the issuance of shares and maintenance of share accounts in the name of persons or entities for membership in the credit union as fiduciaries as other financial institutions enjoy. The credit union is held harmless for the payment of funds from or the delivery of funds into such account as long as the fiduciary has signed for such payment or delivery. The credit union need not inquire into whether the fiduciary is breaching his obligation when the fiduciary purchases shares in his own name with funds from the fiduciary account or with funds from other accounts of his principal; however, the credit union must not pay the amount of such shares if it has actual knowledge that the fiduciary is breaching his fiduciary obligation or that issuing the shares or paying the withdrawal constitutes bad faith.
FULL TEXT
- 01/19/00 House: Presented & ordered printed 001742652 pdf
- 01/31/00 House: Printed as engrossed 001742652-E pdf
- 03/16/00 House: Bill text as passed House and Senate (HB573ER) pdf
- 04/28/00 Governor: Acts of Assembly Chapter text (CHAP0744) pdf
AMENDMENTS
HISTORY
- 01/19/00 House: Presented & ordered printed 001742652
- 01/19/00 House: Referred to Committee on Corporations, Insurance and Banking
- 01/27/00 House: Reported from C. I. B. w/amd (24-Y 0-N)
- 01/28/00 House: Read first time
- 01/31/00 House: Read second time
- 01/31/00 House: Committee amendment agreed to
- 01/31/00 House: Engrossed by House as amended
- 01/31/00 House: Printed as engrossed 001742652-E
- 02/01/00 House: Read third time and passed House (Block Vote) (98-Y 0-N)
- 02/01/00 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 02/01/00 House: Communicated to Senate
- 02/02/00 Senate: Constitutional reading dispensed
- 02/02/00 Senate: Referred to Committee on Commerce and Labor
- 02/28/00 Senate: Reported from Commerce and Labor (14-Y 0-N)
- 02/29/00 Senate: Const. reading disp., passed by for the day (38-Y 0-N)
- 02/29/00 Senate: VOTE: CONST. RDG. DISPENSED R (38-Y 0-N)
- 03/01/00 Senate: Read third time
- 03/01/00 Senate: Passed by for the day
- 03/02/00 Senate: Passed by for the day
- 03/03/00 Senate: Read third time
- 03/03/00 Senate: Passed by for the day
- 03/06/00 Senate: Read third time
- 03/06/00 Senate: Passed Senate (39-Y 0-N)
- 03/06/00 Senate: VOTE: PASSAGE R (39-Y 0-N)
- 03/16/00 House: Bill text as passed House and Senate (HB573ER)
- 03/20/00 House: Enrolled
- 03/20/00 House: Signed by Speaker
- 03/22/00 Senate: Signed by President
- 04/08/00 Governor: Approved by Governor-Chapter 744 (effective 7/1/00)
- 04/28/00 Governor: Acts of Assembly Chapter text (CHAP0744)