Virginia Security for Public Deposits Act; collateral for public deposits. (HB435)

Introduced By

Del. Steve Heretick (D-Portsmouth) with support from co-patron Del. Mark Cole (R-Fredericksburg)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Virginia Security for Public Deposits Act; collateral for public deposits. Specifies that required collateral of a qualified public depository must be deposited with a qualified escrow agent within two business days of accepting public deposits. Current law requires deposits to be collateralized at the time of deposit. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/03/2020Committee
01/03/2020Prefiled and ordered printed; offered 01/08/20 20102583D
01/03/2020Referred to Committee on General Laws
01/14/2020Impact statement from DPB (HB435)
01/15/2020Assigned GL sub: Professions/Occupations and Adminstrative Process
01/15/2020Impact statement from DPB (HB435)
02/06/2020Subcommittee recommends continuing to 2021
02/06/2020Continued to 2021 in General Laws

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