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CA AB1523

Bill

Official Source

Status

Failed

11/30/2016

Primary Sponsor

Mark Stone

Click for details

Origin

State Assembly

2015-2016 Session

AI Summary

  • Amends Section 6213 of the Business and Professions Code to make a technical correction to the definition of "eligible institution" for IOLTA accounts
  • Changes the phrase "pays interest or dividends in the IOLTA account" to "pays interest or dividends on the IOLTA account"
  • Applies to banks, savings and loans, and other financial institutions regulated by federal or state agencies that carry federal deposit insurance
  • Requires majority vote for passage with no fiscal impact or state-mandated local program implications

Legislative Description

Attorneys.

Last Action

From Senate committee without further action.

11/30/2016

Committee Referrals

Judiciary5/7/2015
Rules4/16/2015
Judiciary4/6/2015

Full Bill Text

No bill text available