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Legislative Year: 2024 Change
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Bill Detail: HB24-1381

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Title Sunset Division of Financial Services
Status Governor Signed (06/03/2024)
Bill Subjects
  • Financial Services & Commerce
House Sponsors M. Soper (R)
C. Kipp (D)
Senate Sponsors C. Hansen (D)
K. Mullica (D)
House Committee Finance
Senate Committee Business, Labor and Technology
Date Introduced 03/21/2024
Summary

Sunset Process - House Finance Committee. The bill implements
the recommendations of the department of regulatory agencies (DORA)
in its sunset review and report on the division of financial services
(division), which is created within DORA. Specifically:
  • Sections 1 through 3 of the bill continue the division and
the financial services board (board) for 15 years, until
2039;
  • Section 4 authorizes a credit union to merge with a credit
union that is chartered in another state;
  • Sections 5 and 8 increase the maximum civil penalty for
violating a cease-and-desist order or suspension order from
$1,000 per day to $5,000 per day;
  • Section 6 repeals a provision that prohibits credit unions
from having overlapping geographic fields of membership
and repeals a requirement that the board send hearing
notices by certified or registered mail;
  • Section 7 authorizes a credit union to determine the dates
upon which its fiscal year ends and its board of directors
annually meets;
  • Section 9 repeals an obsolete statute; and
  • Sections 4, 7, and 10 through 59 replace gender-specific
language with gender-neutral language.

Committee Reports
with Amendments
Full Text
Full Text of Bill (pdf) (most recent)
Fiscal Notes Fiscal Notes (08/08/2024) (most recent)  
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