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.