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1998 SESSION

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SB 87 Banking; certificate of authority.

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

SUMMARY:

Banking; certificate of authority. Removes the requirement of establishing a separate capital account labeled "reserve for operation" prior to a bank receiving a certificate of authority from the State Corporation Commission. Financial reports do not normally provide such reserves, and including these reserves is in violation of Generally Accepted Accounting Procedures (GAAP).

FULL TEXT

• 01/14/98  Senate: Presented & ordered printed 980769845  pdf
• 02/23/98  Senate: Bill text as passed Senate and House (SB87ER)  pdf
• 03/10/98  Governor: Acts of Assembly Chapter text (CHAP0018)  pdf

HISTORY

• 01/14/98  Senate: Presented & ordered printed 980769845
• 01/14/98  Senate: Referred to Committee on Commerce and Labor
• 01/19/98  Senate: Reported from Commerce and Labor (15-Y 0-N)
• 01/20/98  Senate: Constitutional reading dispensed (38-Y 0-N)
• 01/20/98  Senate: VOTE: (38-Y 0-N)
• 01/21/98  Senate: Read second time and engrossed
• 01/22/98  Senate: Read third time and passed Senate (38-Y 0-N)
• 01/22/98  Senate: VOTE: PASSAGE R (38-Y 0-N)
• 01/22/98  Senate: Communicated to House
• 01/23/98  House: Placed on Calendar
• 01/26/98  House: Read first time
• 01/26/98  House: Referred to Committee on Corporations, Insurance and Banking
• 02/19/98  House: Reported from Corp., Ins. & Banking (26-Y 0-N)
• 02/20/98  House: Read second time
• 02/23/98  House: Read third time
• 02/23/98  House: Passed House (Block Vote) (96-Y 0-N)
• 02/23/98  House: VOTE: BLOCK VOTE PASSAGE (96-Y 0-N)
• 02/23/98  Senate: Bill text as passed Senate and House (SB87ER)
• 02/27/98  Senate: Enrolled
• 02/27/98  House: Signed by Speaker
• 02/27/98  Senate: Signed by President
• 03/09/98  Governor: Approved by Governor-Chapter 18 (effective 7/1/98)
• 03/10/98  Governor: Acts of Assembly Chapter text (CHAP0018)