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2021 SESSION
SB 777 Virginia Security for Public Deposits Act; collateral for public deposits.
Introduced by: Lynwood W. Lewis, Jr. | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Virginia Security for Public Deposits Act; collateral for public deposits; timeframe. Requires a qualified public depository to deposit eligible collateral with a qualified escrow agent equal to or in excess of the required collateral within two business days of accepting a public deposit. Current law requires deposits to be collateralized at the time of deposit.
FULL TEXT
HISTORY
- 01/08/20 Senate: Prefiled and ordered printed; offered 01/08/20 20102900D
- 01/08/20 Senate: Referred to Committee on Commerce and Labor
- 01/20/20 Senate: Rereferred from Commerce and Labor (14-Y 0-N)
- 01/20/20 Senate: Rereferred to General Laws and Technology
- 02/05/20 Senate: Continued to 2021 in General Laws and Technology (15-Y 0-N)
- 12/04/20 Senate: Left in General Laws and Technology