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1996 SESSION

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SB 199 Bank director stock ownership.

Introduced by: Charles J. Colgan | all patrons    ...    notes | add to my profiles

SUMMARY:

Banking and finance; bank director stock ownership. Relieves bank directors successively reelected from any obligation to increase their bank stock ownership. Under current law, bank directors must own bank stock (in the bank they oversee) having a book value of not less than $5,000. The amendment clarifies this section to provide that the obligation of stock ownership is a one-time event calculated at a director's initial election and not requiring adjustment due to successive reelection.

FULL TEXT

• 01/17/96  Senate: Presented & ordered printed 960993845  pdf
• 02/19/96  Senate: Bill text as passed Senate and House (SB199ER)  pdf
• 03/05/96  Governor: Acts of Assembly Chapter text (CHAP0025)  pdf

HISTORY

• 01/17/96  Senate: Presented & ordered printed 960993845
• 01/17/96  Senate: Referred to Committee on Commerce and Labor
• 01/22/96  Senate: Reported from Commerce and Labor (14-Y 0-N 1-A)
• 01/23/96  Senate: Const. reading disp. (38-Y 0-N), passed by for the day
• 01/23/96  Senate: VOTE: CONST. READING DISPENSED (38-Y 0-N)
• 01/24/96  Senate: Read second time and engrossed
• 01/25/96  Senate: Read third time and passed Senate (37-Y 0-N 2-A)
• 01/25/96  Senate: VOTE: PASSAGE (37-Y 0-N 2-A)
• 01/25/96  Senate: Communicated to House
• 01/26/96  House: Placed on Calendar
• 01/29/96  House: Read first time
• 01/29/96  House: Referred to Committee on Corporations, Insurance and Banking
• 02/15/96  House: Reported from Corp., Ins. & Banking (22-Y 0-N)
• 02/16/96  House: Read second time
• 02/19/96  House: Read third time
• 02/19/96  House: Passed House (Block Vote) (100-Y 0-N)
• 02/19/96  House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
• 02/19/96  Senate: Bill text as passed Senate and House (SB199ER)
• 02/23/96  Senate: Enrolled
• 02/23/96  House: Signed by Speaker
• 02/26/96  Senate: Signed by President
• 03/04/96  Governor: Approved by Governor-Chapter 25 (effective 7/1/96)
• 03/05/96  Governor: Acts of Assembly Chapter text (CHAP0025)