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1997 SESSION

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SB 857 Banks; amendment of powers of state banks by regulation.

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

SUMMARY:

Banks; credit unions; amendment of powers of state banks by regulation. Modifies the procedures followed by the State Corporation Commission when promulgating regulations that would allow state banks or state credit unions to engage in business activities comparable to those conducted by national banks or national credit unions as authorized by federal legislation or regulation. The Commission would promulgate regulations in accordance with the Commission's Rules of Practice and Procedure. Current law requires that a hearing be held in the case of every such regulation and that the regulation be re-adopted following the General Assembly's adjournment.


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