HB 1308
Repeals a provision that allows certain securities to be acceptable collateral for public deposits depending on credit rating
Sponsor:
LR Number:
5101L.03T
Last Action:
7/12/2012 - Signed by Governor
Journal Page:
Title:
HCS HB 1308
Calendar Position:
Effective Date:
August 28, 2012
House Handler:

Current Bill Summary

HCS/HB 1308 - Currently, irrevocable standby letters of credit issued by a federal home loan bank possessing the highest credit rating by at least one nationally recognized rating agency are listed as acceptable collateral for public deposits. This act removes the reference to credit ratings.

This act is similar to CCS/HCS/SCS/SB 635 (2012).

CHRIS HOGERTY

Amendments