summary
Introduced
01/22/2019
01/22/2019
In Committee
07/18/2019
07/18/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
Relative to the depositing of public monies. State Administration and Regulatory Oversight.
AI Summary
This bill amends various sections of Massachusetts state law to allow for the depositing of public monies, including trust funds and cemetery perpetual care funds, in state-chartered or federally-chartered banks, credit unions, and federal credit unions, provided they are insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA). It also establishes a 25% asset cap on the amount of public funds that a credit union or federal credit union can accept.
Committee Categories
Business and Industry, Government Affairs
Sponsors (1)
Last Action
Accompanied a study order, see H5160 (on 12/01/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H2705 |
| Bill | https://malegislature.gov/Bills/191/H2705.pdf |
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