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OK HB2838

Bill

Official Source

Status

Passed

4/30/2014

Primary Sponsor

Dan Newberry

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

HB 2838 Summary

  • Amends 62 O.S. 2011, Section 517.3 relating to the Oklahoma Security for Local Public Deposits Act to authorize redeposits of public entity funds

  • Allows treasurers of public entities to authorize designated depositories within Oklahoma to redeposit funds into interest-bearing demand-deposit accounts at federally insured financial institutions

  • Requires that the full amount of principal and any accrued interest on redeposited funds must be insured by the Federal Deposit Insurance Corporation (FDIC)

  • Becomes effective November 1, 2014

Legislative Description

Public finance; Oklahoma Security for Local Public Deposits Act; redeposits; effective date.

Public Finance

Last Action

Approved by Governor 04/30/2014

4/30/2014

Committee Referrals

Finance3/17/2014
Economic Development and Financial Services2/4/2014

Full Bill Text

No bill text available