SB 1320 Modifies bid process for depositaries of state institutions
LR Number:4747S.01T Fiscal Note:4747-01
Committee:Financial and Governmental Organization, Veterans' Affairs & Elections
Last Action:07/02/04 - Signed by Governor Journal page:
Effective Date:August 28, 2004
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Current Bill Summary

SB 1320 - This act authorizes the management of any state institution with control of any funds to solicit bids from banks in any year in which the bid is requested. Currently, such bids shall only be solicit bids in odd-numbered years. The act provides that bids may be for a period of one to four years. Banks are authorized to submit bids for a term of up to four years.