Provides that a court may not stay or prohibit a Federal Home Loan Bank from exercising rights to collateral pledged by an insurer-member that is subject to a delinquency proceeding.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Last action: 2025-06-27
Official status: In House Committee
Effective date: Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

2025-06-27 House
In committee upon adjournment.
2025-01-17 House
Referred to Commerce and Consumer Protection.
2025-01-13 House
First reading. Referred to Speaker's desk.

Official Summary Text

Digest: The Act makes changes to laws about home loans and lender collateral. (Flesch Readability Score: 67.7).
Provides that a court may not stay or prohibit a Federal Home Loan Bank from exercising rights to collateral pledged by an insurer-member that is subject to a delinquency proceeding. Requires a receiver to comply with provisions of this Act with respect to claims against the insurer-member.
Requires a Federal Home Loan Bank that exercises a right to collateral to repurchase any outstanding capital stock that exceeds the amount of Federal Home Loan Bank stock that the insurer-member must hold as a minimum investment, subject to certain determinations.
Prohibits a receiver from voiding the transfer of, or obligation to transfer, moneys or property under the terms of a Federal Home Loan Bank security agreement.
Declares an emergency, effective on passage.
Relating to: Relating to Federal Home Loan Banks; declaring an emergency.
Current location: In House Committee