SB 489
Allows financial institutions to provide services to certain organizations
Sponsor:
LR Number:
2352S.01I
Committee:
Last Action:
2/9/2021 - S First Read
Journal Page:
Title:
Calendar Position:
14
Effective Date:
August 28, 2021

Current Bill Summary

SB 489 - This act provides that banks, trust companies, associations, and credit unions shall not be prohibited, penalized, have any adverse action taken against it, or otherwise discouraged from providing financial services to facilities licensed or certified under Article XIV, Section 1 of the Constitution of Missouri or to any service provider to such a facility.

The act furthermore expressly permits banks, trust companies, associations, and credit unions to receive the savings of, make loans to, deposit the funds of, and invest funds of customers who operate as a facility licensed or certified under Article XIV, Section 1 of the Constitution of Missouri. No such institution acting pursuant to this act shall be liable under state law for contracting with a facility licensed or certified under Article XIV, Section 1 of the Constitution of Missouri.

This act is identical to HB 1017 (2021).

SCOTT SVAGERA

Amendments

No Amendments Found.