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2009 SESSION

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HB 1761 Security for Public Deposits Act; establish guidleines to permit banks to withdraw from procedures.

Introduced by: Terry G. Kilgore | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Virginia Security for Public Deposits Act.  Authorizes the Treasury Board to establish guidelines to permit banks to withdraw from the Virginia Security for Public Deposits pooling arrangement. A bank that complies with these guidelines will be responsible for making good on its own public deposits, and not responsible for contributing funds to a pool if another bank holding Virginia public deposits fails.


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