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2018 SESSION
HB 433 Banks and credit unions; closure, appointment of receiver.
Introduced by: Daniel W. Marshall, III | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Banks and credit unions; closure; appointment of receiver. Enables the State Corporation Commission (Commission) to close a state-chartered bank or credit union if its net worth ratio falls to less than two percent, if it is approaching insolvency and has no reasonable prospect for rehabilitation, or if closure is necessary for the protection of the public interest. The measure resolves an existing ambiguity regarding the appropriate court to which the Commission is required to apply for an order to have the Federal Deposit Insurance Corporation (FDIC) or National Credit Union Administration (NCUA) appointed as receiver for a state-chartered bank or credit union that has been closed by the Commission. The measure requires the court to appoint the FDIC or NCUA as receiver if the court finds that the FDIC or NCUA is willing to accept the appointment.
FULL TEXT
- 01/06/18 House: Prefiled and ordered printed; offered 01/10/18 18104134D pdf | impact statement
- 02/26/18 House: Bill text as passed House and Senate (HB433ER) pdf | impact statement
- 03/09/18 Governor: Acts of Assembly Chapter text (CHAP0257) pdf
HISTORY
- 01/06/18 House: Prefiled and ordered printed; offered 01/10/18 18104134D
- 01/06/18 House: Referred to Committee on Commerce and Labor
- 01/16/18 House: Reported from Commerce and Labor (22-Y 0-N)
- 01/18/18 House: Read first time
- 01/19/18 House: Read second time and engrossed
- 01/22/18 House: Read third time and passed House BLOCK VOTE (99-Y 0-N)
- 01/22/18 House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
- 01/23/18 Senate: Constitutional reading dispensed
- 01/23/18 Senate: Referred to Committee on Commerce and Labor
- 02/19/18 Senate: Reported from Commerce and Labor (14-Y 0-N)
- 02/21/18 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/22/18 Senate: Read third time
- 02/22/18 Senate: Passed Senate (40-Y 0-N)
- 02/26/18 House: Enrolled
- 02/26/18 House: Bill text as passed House and Senate (HB433ER)
- 02/26/18 House: Signed by Speaker
- 02/28/18 Senate: Signed by President
- 03/02/18 House: Enrolled Bill communicated to Governor on March 2, 2018
- 03/02/18 Governor: Governor's Action Deadline Midnight, March 9, 2018
- 03/09/18 Governor: Approved by Governor-Chapter 257 (effective 7/1/18)
- 03/09/18 Governor: Acts of Assembly Chapter text (CHAP0257)