Bill No.: HB0065 Drafter: DKG
LSO No.: 12LSO-0278 Effective Date: March 13, 2012
Enrolled Act No.: HEA0028
Chapter No.: CH0081
Prime Sponsor: Representative Stubson
Catch Title: Banks-authorized investments.
Subject: Authorized investments by banks.
Summary/Major Elements:
· Current law restricts investments banks may make.
· This act amends a restriction on investments in mutual funds consisting of obligations of the federal government by removing a limitation that the obligations are unconditionally guaranteed by the United States government.