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.

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor
Last action: 2025-06-06
Official status: Chapter Number Assigned
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

2025-06-06 Senate
Chapter 102, 2025 Laws.
2025-06-06 Senate
Effective date, May 19, 2025.
2025-05-19 Senate
Governor signed.
2025-05-12 Senate
President signed.
2025-05-12 House
Speaker signed.
2025-05-08 House
Third reading. Carried by Reschke. Passed. Ayes, 53; Excused, 6--Boshart Davis, Cate, Grayber, Nguyen H, Osborne, Wallan; Excused for Business of the House, 1--Speaker Fahey.
2025-05-07 House
Rules suspended. Carried over to May 8, 2025 Calendar.
2025-05-06 House
Rules suspended. Carried over to May 7, 2025 Calendar.
2025-05-05 House
Recommendation: Do pass.
2025-05-05 House
Second reading.
2025-04-29 House
Work Session held.
2025-04-22 House
Public Hearing held.
2025-03-13 House
Referred to Commerce and Consumer Protection.
2025-03-11 House
First reading. Referred to Speaker's desk.
2025-03-10 Senate
Third reading. Carried by McLane. Passed. Ayes, 29; Excused, 1--Thatcher.
2025-03-06 Senate
Recommendation: Do pass.
2025-03-06 Senate
Second reading.
2025-03-05 Senate
Work Session held.
2025-02-03 Senate
Public Hearing held.
2025-01-17 Senate
Referred to Finance and Revenue.
2025-01-13 Senate
Introduction and first reading. Referred to President'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; and declaring an emergency.
Current location: Chapter Number Assigned