Bill
Bill > HR4517
US HR4517
US HR4517To amend the Home Owners' Loan Act to allow mutual holding companies to clarify requirements related to the waiver of dividends, and for other purposes.
summary
Introduced
12/01/2017
12/01/2017
In Committee
12/01/2017
12/01/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
To amend the Home Owners' Loan Act to allow mutual holding companies to clarify requirements related to the waiver of dividends, and for other purposes. This bill amends the Home Owners' Loan Act to prohibit a federal financial agency from considering waived dividends in determining an appropriate exchange ratio in the event of a full conversion to stock form with respect to a mutual holding company.
AI Summary
This bill amends the Home Owners' Loan Act to prohibit federal financial agencies from considering waived dividends when determining an appropriate exchange ratio in the event of a mutual holding company's full conversion to stock form. It also clarifies that the agencies cannot require a vote of the mutual holding company's members to approve dividend waivers or place additional restrictions on those waivers beyond the requirements set forth in the act.
Committee Categories
Business and Industry
Sponsors (3)
Last Action
Referred to the House Committee on Financial Services. (on 12/01/2017)
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://www.congress.gov/bill/115th-congress/house-bill/4517/all-info |
| BillText | https://www.congress.gov/115/bills/hr4517/BILLS-115hr4517ih.pdf |
| Bill | https://www.congress.gov/115/bills/hr4517/BILLS-115hr4517ih.pdf.pdf |
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