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2010 SESSION
HB 1036 Security for Public Deposits Act; makes several amendments to Act, administered by Treasury Board.
Introduced by: Kathy J. Byron | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Virginia Security for Public Deposits Act. Establishes requirements for banks and savings institutions authorized by the Treasury Board to hold public deposits under the Virginia Security for Public Deposits Act. Qualified public depositories are required to secure deposits either by the pooled method or the dedicated method, and to deposit with a qualified escrow agent eligible collateral that equals or exceeds the required collateral. The measure establishes the procedure for the Treasury Board to recover funds to reimburse public depositors for uninsured public deposits when a qualified public depository is determined to be in default or insolvent. The measure also clarifies that public deposits secured under the Act shall be deposited in a qualified public depository, makes terminology consistent, and clarifies reporting requirements. SB 456 is identical.
FULL TEXT
- 01/13/10 House: Prefiled and ordered printed; offered 01/13/10 10103657D pdf | impact statement
- 02/09/10 House: Committee substitute printed 10105240D-H1 pdf | impact statement
- 03/09/10 House: Bill text as passed House and Senate (HB1036ER) pdf | impact statement
- 04/11/10 Governor: Acts of Assembly Chapter text (CHAP0640) pdf
HISTORY
- 01/13/10 House: Prefiled and ordered printed; offered 01/13/10 10103657D
- 01/13/10 House: Referred to Committee on General Laws
- 01/25/10 House: Assigned GL sub: #2 FOIA/Procurement
- 02/02/10 House: Referred from General Laws by voice vote
- 02/02/10 House: Referred to Committee on Commerce and Labor
- 02/09/10 House: Reported from Commerce and Labor with substitute (22-Y 0-N)
- 02/09/10 House: Committee substitute printed 10105240D-H1
- 02/11/10 House: Read first time
- 02/12/10 House: Read second time
- 02/12/10 House: Committee substitute agreed to 10105240D-H1
- 02/12/10 House: Engrossed by House - committee substitute HB1036H1
- 02/15/10 House: Read third time and passed House BLOCK VOTE (99-Y 0-N)
- 02/15/10 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 02/16/10 Senate: Constitutional reading dispensed
- 02/16/10 Senate: Referred to Committee on General Laws and Technology
- 02/24/10 Senate: Reported from General Laws and Technology (13-Y 0-N)
- 02/26/10 Senate: Constitutional reading dispensed (38-Y 0-N)
- 03/01/10 Senate: Read third time
- 03/01/10 Senate: Passed Senate (40-Y 0-N)
- 03/09/10 House: Enrolled
- 03/09/10 House: Bill text as passed House and Senate (HB1036ER)
- 03/09/10 House: Signed by Speaker
- 03/11/10 Senate: Signed by President
- 04/11/10 Governor: Approved by Governor-Chapter 640 (effective 7/1/10)
- 04/11/10 Governor: Acts of Assembly Chapter text (CHAP0640)