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Minutes for HB2152 - Committee on Financial Institutions and Insurance
Short Title
Substitute for HB 2152 by Committee on Financial Institutions and Pensions - Mandating financial institutions to secure governmental unit deposits in excess of the amount insured or guaranteed by the FDIC by utilizing a public moneys pooled method of securities, prohibiting investment advisers that execute bids for the investment of public moneys from managing moneys directly from such bid, allowing governmental unit deposits to be invested at a rate agreed upon by the governmental unit and the financial institution, requiring certification from a governmental unit that deposits in the municipal investment pool fund were first offered to a financial institution in the preceding year and allowing financial institutions to file complaints upon the failure to comply.
Minutes Content for Tue, Mar 18, 2025
Meeting was called to order by Chairperson Dietrich and brought HB2152 forward to be worked. Revisor Eilieen Ma offered a technical amendment to change language in the bill to stay in line with industry standards and maintaining consistency. (Attachment 1)
Senator Francisco moved to approve the amendment. Senator Rose seconded. Motion passed.
Senator Argabright moved that HB2152 be moved out of Committee favorably as amended. Senator Haley seconded. Motion passed.
