Bill Text | History of Actions | Amendments | Background | Title |
Description: Public Funds Guaranty Pool; create in State Treasury.
Bill Text: [Introduced] [Committee Substitute] [Passed Senate] [Sent to Governor]
| 1 | 02/21/00 | (S) | Referred To Business and Financial Institutions | |
| 2 | 02/29/00 | (S) | Title Suff Do Pass Comm Sub | |
| 3 | 03/13/00 | (S) | Committee Substitute Adopted | |
| 4 | 03/13/00 | (S) | Passed | |
| 5 | 03/15/00 | (S) | Transmitted To House | |
| 6 | 03/16/00 | (H) | Referred To Banks and Banking | |
| 7 | 03/28/00 | (H) | Title Suff Do Pass As Amended | |
| 8 | 03/30/00 | (H) | Amended | |
| 9 | 03/30/00 | (H) | Passed As Amended | |
| 10 | 03/31/00 | (H) | Returned For Concurrence | |
| 11 | 04/06/00 | (S) | Concurred in Amend From House | |
| 12 | 04/11/00 | (S) | Enrolled Bill Signed | |
| 13 | 04/11/00 | (H) | Enrolled Bill Signed | |
| 14 | 04/17/00 | Approved by Governor |
| Adopted | [H] | Amendment No 1 |
| Effective date | ** See Text | |
| Disposition | Law | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No | |
| Chapter number | 408 |
Senate Committee:
House Committee:
Principal Author: Mettetal
Additional Author: Jackson
Code Sections: A 027-0105-0005, 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, A 027-0105-0009
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 SUCH 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.
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