Bill > S1360

This bill adds credit unions to the list of financial institutions that are eligible to be qualified public depositories. It authorizes the Chief Financial Officer to limit the amount of public deposits a credit union may hold and requires the Chief Financial Officer to segregate and separately account for proceeds, assessments, and administrative penalties attributable to a credit union from those attributable to other specified financial institutions. The bill also specifies the losses against which certain solvent banks, savings banks, savings associations, and credit unions must guarantee public depositors.