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Legislation


2004 Regular Session

SENATE BILL 408

File Code: Financial Institutions Crossfiled with: HOUSE BILL 423
Sponsored By:
Senator Klausmeier
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

Senate Action
2/5
First Reading Finance
2/25
Hearing 3/12 at 1:00 p.m.
3/3
Hearing cancelled
Hearing 3/17 at 1:00 p.m.
3/19
Favorable Report by Finance
Favorable Report Adopted
Second Reading Passed
3/22
Third Reading Passed (46-0)
4/7
Returned Passed
5/26
Governor vetoed - Cross-filed bill was signed
House Action
3/23
First Reading Economic Matters
3/24
Hearing 3/31 at 1:00 p.m.
4/7
Favorable Report by Economic Matters
4/3
Favorable Report Adopted
Second Reading Passed
4/4
Third Reading Passed (139-0)
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
Fiscal Note: Available (PDF)
Amendments: None offered
Roll Call Votes (Legislative dates are shown):
Senate
March 22, 2004: Third Reading Passed (46-0)
House
April 4, 2004: Third Reading Passed (139-0)
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