SB 237

Abstract

Amends the Savings Bank Act. Provides that a savings bank may not disclose to any person, except to the member or holder of capital or his or her duly authorized agent, any financial records relating to that member or shareholder of the savings bank unless the financial records are disclosed in response to a lawful subpoena, summons, warrant, citation to discover assets, or court order that meets certain requirements (now, a savings bank may only disclose financial records in response to a lawful subpoena, summons, warrant, or court order). Makes corresponding changes in provisions related to disclosure procedure and the reimbursement of costs associated with compliance.