Bill Title: As enacted, changes requirements for federal home loan banks in regard to the issuance of letters of credit as eligible collateral for public funds to require that the banks be rated "investment grade" by at least one nationally recognized securities rating service instead of being rated in the highest category by at least two nationally recognized securities rating services. - Amends TCA Section 9-4-103(9)(A).

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2012-05-15 - Pub. Ch. 942 [SB3217 Detail]

Text: Latest bill text (Draft #1) [PDF]

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