Legislative Session number- 83

Bill Name: SF1069

E Relating to commerce; modifying certain provisions regulating + financial
institutions; modifying the frequency requirement for commissioner of+ commerce
financial institution and debt prorating service investigations; +eliminating
the requirement for applicants for the organization or relocation of + banks to
mail copies of the notice of application or relocation to banks +within a
certain number of miles of the proposed bank location; permitting +financial
institutions to close at noon on Christmas or New Years eve days, +posted notice
requirement; modifying certain provisions regulating advertising for +electronic
financial terminals and loans to bank directors, officers, employees +or agents
and certain security requirements for total loans to obligors; +modifying the
forfeiture law for individual deferred life insurance annuity +contracts;
authorizing the use of local government unit unrated general +obligation
securities as collateral for the deposit or investment of local +public funds in
lieu of corporate surety bonds and modifying the required amount of +collateral
required for certain irrevocable standby letters of credit; modifying+ residency
requirements for members of boards of directors of financial +corporations and
eliminating the time restriction on voting on recently transferred +stock;
repealing certain rules regulating delinquent loans, officer or +employee
overdrafts and credit union select groups identification(je ja)