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Legislation


2004 Regular Session

HOUSE BILL 423

CHAPTER NUMBER: 342 File Code: Financial Institutions Crossfiled with: SENATE BILL 408
Sponsored By:
Delegate Moe
Entitled:
Banking Institutions - Savings Banks

Synopsis:

Authorizing a savings bank to have any banking institution in this State, any other bank in this State, or any State or federal savings and loan association in this State merge into the savings bank if the Commissioner, after receiving the advice of the Banking Board, gives written consent to the transaction; requiring a plan of reorganization of a savings bank to provide that as a result of the reorganization, the mutual holding company shall hold more than 50% of the stock of the subsidiary savings bank; etc.

History by Legislative Date

House Action
1/29
First Reading Economic Matters
2/9
Hearing 2/18 at 1:00 p.m.
3/1
Favorable Report by Economic Matters
3/2
Favorable Report Adopted
Second Reading Passed
3/4
Third Reading Passed (138-0)
4/4
House Concur - Senate Amendments
Third Reading Passed (136-0)
Passed Enrolled
5/11
Signed by the Governor Chapter 342
Senate Action
3/5
First Reading Finance
3/10
Hearing 3/25 at 1:00 p.m.
3/30
Favorable Report by Finance
Favorable Report Adopted
Second Reading Passed
3/31
Special Order 4/1 (Senator Middleton) Adopted
4/1
Floor Committee Amendment (Finance) Adopted
Third Reading Passed with Amendments (45-0)
Bill indexed under the following Subjects:
BANKS AND TRUST COMPANIES
FINANCIAL INSTITUTIONS -see also- BANKS; CREDIT UNIONS; etc.
FINANCIAL REGULATION, DIVISION OF
MERGERS AND ACQUISITIONS
SAVINGS AND LOAN ASSOCIATIONS
SECURITIES
Bill affects the following Statutes:
Financial Institutions
( 4-101 , 4-701 , 4-802 , 4-803 , 4-804 , 4-902 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled (PDF)
Fiscal Note: Available (PDF)
Amendments:
Senate
Number: 787271/01 (PDF)     Offered on: April 1, 2004   at: 11:33 a.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
House
March 4, 2004: Third Reading Passed (138-0)
April 4, 2004: Third Reading Passed (136-0)
Senate
April 1, 2004: Third Reading Passed (45-0)
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