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TN HB3602
Bill
Status
Passed
5/15/2012
Primary Sponsor
Charles Sargent
Click for details
AI Summary
Legislative Description
As enacted, changes requirements for federal home loan banks in regard to the issuance of letters of credit as eligible collateral for public funds to require that the banks be rated "investment grade" by at least one nationally recognized securities rating service instead of being rated in the highest category by at least two nationally recognized securities rating services. - Amends TCA Section 9-4-103(9)(A).
Public Funds and Financing
Last Action
Comp. became Pub. Ch. 942
5/15/2012
Committee Referrals
Finance, Ways & Means4/4/2012
General Sub of Finance, Ways & Means3/28/2012
Finance, Ways & Means2/1/2012
Full Bill Text
No bill text available