Oregon House Bill 3169 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 3-0)
Status: Failed on June 30 2019 - 100% progression
Action: 2019-06-30 - In committee upon adjournment.
Text: Latest bill text (Introduced) [PDF]

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.

Relating to limited charter financial institutions.

Rep. Pam Marsh [D]

Rep. Julianne Fahey [D]

Rep. Ken Helm [D]

Date	Chamber	Action
2019-06-30	House	In committee upon adjournment.
2019-03-25	House	Public Hearing held.
2019-03-05	House	Referred to Economic Development with subsequent referral to Revenue.
2019-02-28	House	First reading. Referred to Speaker's desk.

Type	Source
Summary	https://olis.oregonlegislature.gov/liz/2019R1/Measures/Overview/HB3169
Text	https://olis.oregonlegislature.gov/liz/2019R1/Downloads/MeasureDocument/HB3169/Introduced