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FL S0936

Bill

Status

Failed

3/9/2012

Primary Sponsor

Christopher Smith

Click for details

Origin

Senate

2012 Regular Session

AI Summary

  • Expands the definition of "custodian" and "qualified public depository" to include credit unions and financial institutions generally, rather than limiting coverage to banks and savings associations.

  • Requires credit unions to submit National Credit Union Administration 5300 Call Reports to the Chief Financial Officer, in addition to existing reporting requirements for banks and savings associations.

  • Updates the definition of "capital account" to reference the National Credit Union Administration 5300 Call Report as an acceptable reporting standard.

  • Modifies insurance requirements for qualified public depositories to include coverage by the National Credit Union Share Insurance Fund in addition to Federal Deposit Insurance Corporation coverage.

  • Clarifies that evidence of insurance under the Federal Deposit Insurance Act or Federal Credit Union Act must accompany public deposit claims filed with the Chief Financial Officer.

Legislative Description

Public Depositories

Last Action

Died in Banking and Insurance

3/9/2012

Committee Referrals

Banking and Insurance1/24/2012
Governmental Oversight and Accountability12/6/2011

Full Bill Text

No bill text available