Danny Marshall
- Republican
- Delegate
- District 49
Primary
Enables the State Corporation Commission (Commission) to close a state-chartered bank or credit union if its net worth ratio falls to less than two percent, if it is approaching insolvency and has no reasonable prospect for rehabilitation, or if closure is necessary for the protection of the public interest. The measure resolves an existing ambiguity regarding the appropriate court to which the Commission is required to apply for an order to have the Federal Deposit Insurance Corporation (FDIC) or National Credit Union Administration (NCUA) appointed as receiver for a state-chartered bank or credit union that has been closed by the Commission. The measure requires the court to appoint the FDIC or NCUA as receiver if the court finds that the FDIC or NCUA is willing to accept the appointment.
Approved by Governor-Chapter 257 (effective 7/1/18)
Governor's Action Deadline Midnight, March 9, 2018
Enrolled Bill communicated to Governor on March 2, 2018
Signed by President
Enrolled
Signed by Speaker
Read third time
Constitutional reading dispensed
Referred to Committee on Commerce and Labor
Read third time and passed House BLOCK VOTE (99-Y 0-N)
Read second time and engrossed
Read first time
Prefiled and ordered printed; offered 01/10/18 18104134D
Referred to Committee on Commerce and Labor
| Bill Text Versions | Format |
|---|---|
| House: Prefiled and ordered printed; offered 01/10/18 18104134D | HTML |
| House: Bill text as passed House and Senate (HB433ER) | HTML |
| Document | Format |
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| No related documents. |
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