Loading chat...

MN HF4067

Bill

Official Source

Status

Introduced

3/4/2020

Primary Sponsor

Steve Elkins

Click for details

Origin

House of Representatives

91st Legislature 2019-2020

AI Summary

  • Amends Minnesota Statutes 2018, section 48.61, subdivision 3, to modify investment requirements for banks and trust companies
  • Banks or trust companies may invest up to 10 percent of capital and surplus in shares of stock in banks or bank holding companies
  • Removes requirement that stock be owned exclusively by bank holding companies or banks
  • Eliminates requirement that at least 51 percent of voting stock be owned or controlled by Minnesota-authorized bank holding companies or banks
  • Referred to the House Committee on Commerce

Legislative Description

Bank and trust company authorized investments modified.

Last Action

HF indefinitely postponed

5/12/2020

Committee Referrals

Rules and Legislative Administration5/9/2020
Commerce3/4/2020

Full Bill Text

No bill text available