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FL S0918

Bill

Status

Failed

5/3/2013

Primary Sponsor

Rene Garcia

Click for details

Origin

Senate

2013 Regular Session

AI Summary

  • Expands the definition of "custodian" and "qualified public depository" to include credit unions in addition to banks and savings associations.

  • Adds credit unions to the reporting requirements for financial institutions by requiring submission of the National Credit Union Administration 5300 Call Report to the Chief Financial Officer.

  • Updates the definition of "capital account" to reference the National Credit Union Administration 5300 Call Report alongside existing banking reports.

  • Modifies insurance requirements for qualified public depositories to include coverage under both the Federal Deposit Insurance Corporation and the National Credit Union Share Insurance Fund.

  • Requires public depositors to submit evidence of insurance under either the Federal Deposit Insurance Act or Federal Credit Union Act when claiming losses from insolvent institutions, effective July 1, 2013.

Legislative Description

Public Depositories

Last Action

Died in Banking and Insurance

5/3/2013

Committee Referrals

Banking and Insurance2/19/2013

Full Bill Text

No bill text available