Security of Public Deposits Act; eligible collateral & amends definition of public depository. (SB398)

Introduced By

Sen. Phil Puckett (D-Tazewell) with support from co-patron Sen. Roscoe Reynolds (D-Martinsville)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Virginia Security of Public Deposits Act; qualified public depository; eligible collateral. Includes as eligible collateral Federal Home Loan Bank letters-of-credit that adhere to the guidelines as promulgated by the Treasury Board. The bill also amends the definition of qualified public depository to include banks or savings institutions that are organized under the laws of another state but have branches in Virginia. Read the Bill »


Bill Has Passed


01/08/2008Prefiled and ordered printed; offered 01/09/08 084544300
01/08/2008Prefiled and ordered printed with emergency clause; offered 01/10/07 084544300
01/08/2008Referred to Committee on Finance
01/16/2008Rereferred from Fin. (15-Y 0-N) (see vote tally)
01/16/2008Rereferred to Commerce and Labor
01/18/2008Impact statement from DPB (SB398)
01/21/2008Reported from Commerce and Labor with substitute (15-Y 0-N) (see vote tally)
01/21/2008Committee substitute printed 080143300-S1
01/23/2008Constitutional reading dispensed (40-Y 0-N) (see vote tally)
01/24/2008Read second time
01/24/2008Reading of substitute waived
01/24/2008Committee substitute agreed to 080143300-S1
01/24/2008Engrossed by Senate - committee substitute SB398S1
01/25/2008Read third time and passed Senate (39-Y 0-N) (see vote tally)
01/25/2008Communicated to House
01/30/2008Placed on Calendar
01/30/2008Read first time
01/30/2008Referred to Committee on Commerce and Labor
01/31/2008Impact statement from DPB (SB398S1)
02/05/2008Reported from Commerce and Labor (22-Y 0-N) (see vote tally)
02/07/2008Read second time
02/08/2008Read third time
02/08/2008Passed House BLOCK VOTE (98-Y 0-N)
02/08/2008VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
02/12/2008Bill text as passed Senate and House (SB398ER)
02/12/2008Signed by Speaker
02/13/2008Signed by President
02/15/2008Impact statement from DPB (SB398ER)
02/19/2008G Approved by Governor-Chapter 7 (effective 2/19/08)
02/20/2008G Acts of Assembly Chapter text (CHAP0007)