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2018 SESSION

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HB 789 Banks; stock ownership by directors.

Introduced by: Mark L. Keam | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Banks; stock ownership by directors. Provides that a bank director is deemed to be the sole owner of shares in the bank that are deposited by the director in a living trust, or inter vivos trust, as to which the director is a trustee and retains an absolute power of revocation. Currently, a director is deemed to be the sole owner of shares that are deposited in such a trust only if the director is the sole trustee of the trust. This bill is identical to SB 260.


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