IN SB0205 | 2011 | Regular Session

Status

Completed Legislative Action
Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Passed on May 17 2011 - 100% progression
Action: 2011-05-18 - Effective 05/10/2011
Text: Latest bill text (Enrolled) [HTML]

Summary

Provides that in order to serve as a depository of public funds, a financial institution does not have to maintain a capital ratio in excess of the minimum required by the institution's governmental supervisory body if the institution has fully collateralized the institution's public funds on deposit by pledging and delivering acceptable collateral to the board for depositories. Provides that a service charge to be paid by a political subdivision to a public depository in which the political subdivision's funds are deposited may be paid from interest earned on the funds in the political subdivision's account with the public depository. Provides that a service charge to be paid by a political subdivision to a public depository for the depository's management of an investment cash management system for the political subdivision may be paid from interest earned on the funds in the political subdivision's account with the public depository that manages the system.

Tracking Information

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Title

Capital ratio requirement for public depositories.

Sponsors


Roll Calls

2011-04-25 - Senate - Senate - Senate concurred in House amendments (Y: 47 N: 3 NV: 0 Abs: 0) [PASS]
2011-04-08 - House - House - Third reading: passed (Y: 85 N: 2 NV: 2 Abs: 11) [PASS]
2011-02-10 - Senate - Senate - Third reading: passed (Y: 48 N: 1 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2011-05-18 Effective 05/10/2011
2011-05-17 Public Law 147
2011-05-10 Signed by the Governor
2011-05-02 Signed by the President of the Senate
2011-04-29 Signed by the Speaker
2011-04-28 Signed by the President Pro Tempore
2011-04-25 Senate concurred in House amendments; Roll Call 461: yeas 47, nays 3
2011-04-19 Motion to concur in House amendments filed
2011-04-08 Returned to the Senate with amendments
2011-04-08 Third reading: passed; Roll Call 431: yeas 85, nays 2
2011-04-07 Second reading: ordered engrossed
2011-04-04 Representative Messmer added as cosponsor
2011-04-04 Committee report: amend do pass, adopted
2011-03-28 First reading: referred to Committee on Financial Institutions
2011-02-10 Cosponsors: Reps. Knollman and Pflum
2011-02-10 House sponsor: Rep. Saunders
2011-02-10 Referred to the House
2011-02-10 Third reading: passed; Roll Call 98: yeas 48 and nays 1
2011-02-08 Senator Holdman added as second author
2011-02-07 Senator Mrvan added as coauthor
2011-02-07 Second reading: ordered engrossed
2011-01-31 Committee report: do pass, adopted
2011-01-05 First reading: referred to Committee on Insurance and Financial Institutions
2011-01-05 Authored by Senator Paul

Indiana State Sources


Bill Comments

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