Virginia Security for Public Deposits Act; collateral for public deposits. (SB777)

Introduced By

Sen. Lynwood Lewis (D-Accomac)

Progress

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

Description

Virginia Security for Public Deposits Act; collateral for public deposits; timeframe. Requires a qualified public depository to deposit eligible collateral with a qualified escrow agent equal to or in excess of the required collateral within two business days of accepting a public deposit. Current law requires deposits to be collateralized at the time of deposit. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/08/2020Prefiled and ordered printed; offered 01/08/20 20102900D
01/08/2020Referred to Committee on Commerce and Labor
01/16/2020Impact statement from DPB (SB777)
01/20/2020Rereferred from Commerce and Labor (14-Y 0-N) (see vote tally)
01/20/2020Rereferred to General Laws and Technology
02/05/2020Continued to 2021 in General Laws and Technology (15-Y 0-N) (see vote tally)
12/04/2020Left in General Laws and Technology

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