MA H912

Bill

MA H912

Relative to certain loans by the Federal Home Loan Bank

Introduced
01/20/2015

In Committee
05/31/2016

Crossed Over
05/26/2016

Passed

Dead
07/31/2016

Introduced Session

189th General Court

Bill Summary

Relative to secured lending by the Federal Home Loan Bank. Financial Services.

AI Summary

This bill makes technical amendments to existing Massachusetts law, specifically Chapter 175 and Chapter 176G, by adjusting numerical references within sections related to financial agreements. The core change involves replacing references to a range of sections from "180A to 180L, inclusive" with "180A to 180L3/4, inclusive," effectively creating a new section, 180L3/4. This new section clarifies that a Federal Home Loan Bank (a federally chartered entity that provides funding to financial institutions) and its related agreements, such as pledges, collateral, loans, and guarantees, cannot be prevented or undone by legal proceedings, including receivership or liquidation, unless the transfer was made with the intent to defraud. This aims to protect the rights and financial arrangements of the Federal Home Loan Bank in certain financial distress situations.

Committee Categories

Business and Industry

Sponsors (1)

Aaron Michlewitz (D)*,

Last Action

Read; and referred to the committee on Senate Rules (on 05/31/2016)

Official Document

https://malegislature.gov/Bills/189/H912

(9 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/189/H912
Bill	https://malegislature.gov/Bills/189/H912.pdf

Bill	Bill Name	Last Action	Type
H1060	Establishing an education loan repayment program for social workers in areas of need	Bill reported favorably by committee and referred to the committee on House Ways and Means	Similar To
H3343	Further regulating the authority of the town manager in the town of Duxbury to negotiate and execute certain contracts	Signed by the Governor, Chapter 4 of the Acts of 2016	Similar To
H3810	Relative to motor vehicle repair notification	Accompanied a study order, see H4578	Similar To
H84	To provide a pilot program for low interest loans to families with a child suffering from a terminal illness	Accompanied a study order, see H4623	Similar To
H95	Ensuring the appropriate and timely payment and residential service placement for children deemed to be a safety risk	Accompanied a study order, see H4614	Similar To
S175	Relative to unsolicited loans	Reprinted as amended, see S2194	Similar To
S239	To provide for loans for waterfront development	Accompanied a study order, see S2215	Similar To
S391	Relative to unfunded election audits	Accompanied a study order, see H4134	Similar To
S401	Resolve providing for an investigation and study of enhancing statewide recycling programs	Resolve reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To

Bill > H912

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary