Mississippi Legislature

2000 Regular Session

House Bill 1381

Instructions Bill Status Menu




Bill Text

History of Actions

Background

Title

Description: Public Funds Guaranty Pool; create in State Treasury.

Bill Text: [Introduced] [Committee Substitute] [Passed House]

History of Actions:

102/21/00(H)Referred To Banks and Banking
202/29/00(H)Title Suff Do Pass Comm Sub
303/08/00(H)Committee Substitute Adopted
403/08/00(H)Passed
503/10/00(H)Transmitted To Senate
603/17/00(S)Referred To Business and Financial Institutions
704/04/00(S)Died In Committee

Background Information:

Effective date** See Text
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredNo

House Committee:

Senate Committee:

Principal Author: Guice

Code Sections: A 027-0105-0005, A 027-0105-0009, A 027-0105-0013, A 027-0105-0025, A 027-0105-0035, A 027-0105-0315, A 027-0105-0317, A 027-0105-0329, A 027-0105-0331, A 027-0105-0333, A 027-0105-0349, A 027-0105-0353, A 027-0105-0355, A 027-0105-0359

Title: AN ACT TO AMEND SECTION 27-105-5, MISSISSIPPI CODE OF 1972, TO PROVIDE QUALIFICATIONS FOR A FINANCIAL INSTITUTION TO QUALIFY AS A PUBLIC FUNDS DEPOSITORY AND GUARANTY POOL MEMBER; TO CREATE A NEW SECTION TO BE CODIFIED AS SECTION 27-105-6, MISSISSIPPI CODE OF 1972, TO ESTABLISH WITHIN THE STATE TREASURY A PUBLIC FUNDS GUARANTY POOL TO CONSIST OF QUALIFIED PUBLIC FUNDS DEPOSITORIES TO BE ADMINISTERED BY A GUARANTY POOL BOARD AND THE STATE TREASURER; TO PROVIDE FOR THE MEMBERSHIP OF THE GUARANTY POOL BOARD AND TO PROVIDE FURTHER QUALIFICATIONS REQUIRED FOR FINANCIAL INSTITUTIONS TO PARTICIPATE IN THE GUARANTY POOL; TO AMEND SECTION 27-105-25, MISSISSIPPI CODE OF 1972, TO REQUIRE THE STATE TREASURER TO PROVIDE COVERAGE OF THE REMAINING LOSS BY ASSESSMENT AGAINST THE OTHER PUBLIC FUNDS GUARANTY POOL MEMBERS WHEN A LOSS TO THE PUBLIC DEPOSITORS IS NOT COVERED BY DEPOSIT INSURANCE OR PROCEEDS OF A SALE OF SECURITIES; TO AMEND SECTION 27-105-315, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT ANY FINANCIAL INSTITUTION WHOSE ACCOUNTS ARE INSURED BY THE FDIC MAY QUALIFY AS A COUNTY DEPOSITORY IF THE INSTITUTION QUALIFIES AS A PUBLIC FUNDS DEPOSITORY OR GUARANTY POOL MEMBER; TO AMEND SECTION 27-105-317, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A COUNTY DEPOSITORY MUST BE ISSUED A COMMISSION BEFORE RECEIPT OF COUNTY DEPOSITS; TO AMEND SECTIONS 27-105-9, 27-105-13, 27-105-35, 27-105-329, 27-105-331, 27-105-333, 27-105-349, 27-105-353, 27-105-355 AND 27-105-359, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO; TO REPEAL SECTION 27-105-319, MISSISSIPPI CODE OF 1972, WHICH PROVIDES THE FORM OF THE COMMISSION FOR A COUNTY DEPOSITORY; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 04/05/00 at 08:23.



End Of Document

2000/html/History/HB/HB1381.htm