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 invest in credit unions. Financial Services.
AI Summary
This bill allows municipalities to deposit funds in credit unions, including federal credit unions, in addition to the currently permitted banks and cooperative banks. The bill amends sections of the General Laws to explicitly include credit unions as an option for municipal deposits, and it also limits the total amount of public funds that a credit union or federal credit union can accept to 25% of its assets.
Committee Categories
Business and Industry
Sponsors (4)
Last Action
Accompanied a study order, see H4705 (on 06/03/2024)
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/H1034 |
| BillText | https://malegislature.gov/Bills/193/H1034.pdf |
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