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