summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
For legislation to authorize municipalities to deposit into credit unions. Financial Services.
AI Summary
This bill allows municipalities to deposit funds into credit unions, including federal credit unions, in addition to the previously allowed banks and cooperative banks. It amends various sections of the Massachusetts General Laws to explicitly authorize these deposits, and also sets a limit of 25% of the credit union's total assets for the amount of public funds that can be held by the credit union.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Accompanied a study order, see S2636 (on 02/12/2024)
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/193/S652 |
| BillText | https://malegislature.gov/Bills/193/S652.pdf |
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