OR HB3169 | 2019 | Regular Session

Status

Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on February 28 2019 - 25% progression
Action: 2019-03-25 - Public Hearing held.
Pending: House Economic Development Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Provides that banking institutions and credit unions may organize as limited charter cannabis financial institutions. Requires limited charter cannabis financial institutions to adopt policies and practices allowing them to comply with certain federal law. Prohibits such institutions from transacting business with financial institutions other than limited charter cannabis financial institutions. Prohibits limited charter cannabis financial institutions from offering checking services other than issuance of special purpose checks that may be used only for specified purposes. Prohibits limited charter cannabis financial institutions from investing assets except for certain specified investments. Requires Director of Department of Consumer and Business Services to adopt rules to carry out provisions of Act and to ensure safe and sound operation of limited charter cannabis financial institutions. Authorizes director to limit powers of such institutions.

Tracking Information

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Title

Relating to limited charter financial institutions.

Sponsors


History

DateChamberAction
2019-03-25HousePublic Hearing held.
2019-03-05HouseReferred to Economic Development with subsequent referral to Revenue.
2019-02-28HouseFirst reading. Referred to Speaker's desk.

Oregon State Sources


Bill Comments

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