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- Subject Index: Since 1995
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2023 SESSION
HB 1727 Credit unions; virtual currency custody services.
Introduced by: Christopher T. Head | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Credit unions; virtual currency custody services. Permits a credit union in the Commonwealth to engage in virtual currency custody services, provided that the credit union has adequate protocols in place to effectively manage the associated risks and comply with applicable laws and, prior to offering virtual currency custody services, the credit union has carefully examined the risks in offering such services through a methodical self-assessment process. To engage in such services, the credit union must implement effective risk management systems, maintain adequate insurance coverage, and maintain a service provider oversight program. The bill allows that such credit union may provide such services in a fiduciary or nonfiduciary capacity; however, no credit union shall provide virtual currency custody services in a fiduciary capacity without first obtaining authorization to do so from the State Corporation Commission.
FULL TEXT
- 01/09/23 House: Prefiled and ordered printed; offered 01/11/23 23100896D pdf | impact statement
- 02/13/23 Senate: Committee substitute printed 23106619D-S1 pdf | impact statement
- 02/23/23 House: Bill text as passed House and Senate (HB1727ER) pdf
- 03/23/23 Governor: Acts of Assembly Chapter text (CHAP0303) pdf
AMENDMENTS
HISTORY
- 01/09/23 House: Prefiled and ordered printed; offered 01/11/23 23100896D
- 01/09/23 House: Referred to Committee on Commerce and Energy
- 01/12/23 House: Reported from Commerce and Energy (22-Y 0-N)
- 01/16/23 House: Read first time
- 01/17/23 House: Read second time and engrossed
- 01/18/23 House: Read third time and passed House BLOCK VOTE (97-Y 0-N)
- 01/18/23 House: BLOCK VOTE: (97-Y 0-N)
- 01/19/23 Senate: Constitutional reading dispensed
- 01/19/23 Senate: Referred to Committee on Commerce and Labor
- 02/13/23 Senate: Reported from Commerce and Labor with substitute (15-Y 0-N)
- 02/13/23 Senate: Committee substitute printed 23106619D-S1
- 02/15/23 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/16/23 Senate: Read third time
- 02/16/23 Senate: Reading of substitute waived
- 02/16/23 Senate: Committee substitute agreed to 23106619D-S1
- 02/16/23 Senate: Engrossed by Senate - committee substitute HB1727S1
- 02/16/23 Senate: Passed Senate with substitute (40-Y 0-N)
- 02/20/23 House: Placed on Calendar
- 02/20/23 House: Senate substitute agreed to by House 23106619D-S1 (99-Y 0-N)
- 02/20/23 House: VOTE: Adoption (99-Y 0-N)
- 02/23/23 House: Enrolled
- 02/23/23 House: Bill text as passed House and Senate (HB1727ER)
- 02/23/23 House: Signed by Speaker
- 02/25/23 Senate: Signed by President
- 03/02/23 House: Enrolled Bill communicated to Governor on March 2, 2023
- 03/02/23 Governor: Governor's Action Deadline 11:59 p.m., March 27, 2023
- 03/23/23 Governor: Approved by Governor-Chapter 303 (effective 7/1/23)
- 03/23/23 Governor: Acts of Assembly Chapter text (CHAP0303)