Banks; interstate branching. (HB358)
Introduced By
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Banks; interstate branching. Repeals a limitation on the establishment within the Commonwealth of branches of out-of-state banks. The limitation provides that such a branch may not be established unless the laws of the home state of the out-of-state bank permit Virginia banks to establish and maintain de novo in that state under substantially the same terms as provided under Virginia law. The measure also repeals (i) a requirement that the State Corporation Commission, when acting on an application by a Virginia bank to establish a branch in another state, consider the views of the state bank supervisor of the state where a branch is proposed to be located and (ii) a nonseverability provision that states that if any provision of Virginia's 1995 law regulating interstate branching is held to be invalid, the entire article law is invalid. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/03/2014 | Committee |
01/03/2014 | Prefiled and ordered printed; offered 01/08/14 14103144D |
01/03/2014 | Referred to Committee on Commerce and Labor |
01/08/2014 | Impact statement from SCC (HB358) |
01/14/2014 | Reported from Commerce and Labor (19-Y 1-N) (see vote tally) |
01/16/2014 | Read first time |
01/17/2014 | Passed by for the day |
01/20/2014 | Read second time and engrossed |
01/21/2014 | Read third time and passed House (90-Y 1-N) |
01/21/2014 | VOTE: PASSAGE (90-Y 1-N) (see vote tally) |
01/22/2014 | Constitutional reading dispensed |
01/22/2014 | Referred to Committee on Commerce and Labor |
02/17/2014 | Reported from Commerce and Labor (16-Y 0-N) (see vote tally) |
02/19/2014 | Constitutional reading dispensed (40-Y 0-N) |
02/20/2014 | Read third time |
02/20/2014 | Passed Senate (40-Y 0-N) |
02/24/2014 | Enrolled |
02/24/2014 | Bill text as passed House and Senate (HB358ER) |
02/24/2014 | Signed by Speaker |
02/25/2014 | Impact statement from SCC (HB358ER) |
02/26/2014 | Signed by President |
03/07/2014 | G Approved by Governor-Chapter 200 (effective 7/1/14) |
03/07/2014 | G Acts of Assembly Chapter text (CHAP0200) |
Comments
It seems to me like this bill is going to have a pretty enormous impact. I hope somebody explains that impact.