Bill
Bill > H3818
MA H3818
To modernize Massachusetts Credit Union Share Insurance Corporation (MSIC) investments
summary
Introduced
05/20/2021
05/20/2021
In Committee
05/27/2021
05/27/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
For legislation to modernize Massachusetts Credit Union Share Insurance Corporation (MSIC) investments. Financial Services.
AI Summary
This bill aims to modernize the investment options for the Massachusetts Credit Union Share Insurance Corporation (MSIC). Specifically, it would allow MSIC to invest up to 15% of its assets in investments not specifically enumerated in existing law, with a limit of 5% in any single issuer. Additionally, the bill would allow MSIC to authorize registered investment advisers to manage its investments, with the commissioner determining the percentage of assets that can be invested in this manner. The commissioner would also have the authority to increase, modify, or limit MSIC's investment authority as needed.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Accompanied a study order, see H4976 (on 09/01/2022)
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/192/H3818 |
| Bill | https://malegislature.gov/Bills/192/H3818.pdf |
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