SB 1318

Bill Subjects

And Use Aviation Executive Branch Insurance Municipalities Public Business Public Lands And Property Real And Personal Property Subject Index

Abstract

Public Deposits; Providing requirements for credit unions that are qualified public depositories; providing that public deposits in credit unions by specified trust departments or trust companies are exempt from certain requirements and protection; prohibiting the Chief Financial Officer from designating credit unions as qualified public depositories unless certain requirements are met; revising the losses for which the Chief Financial Officer may sell securities to protect the integrity of the public deposits program; authorizing credit unions to be reinstated, or to reapply for qualification, as qualified public depositories under specified circumstances; authorizing the Chief Financial Officer to issue a cease and desist order and a corrective order to credit unions upon certain determinations, etc.