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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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Randy McNally [R]	Sponsor	Sponsored Bills	SD-005	FollowTheMoney	Ballotpedia	VoteSmart

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