HB0065 • 2012

Banks-authorized investments.

AN ACT relating to banks and banking; modifying requirements for authorized investment of bank assets in mutual funds; and providing for an effective date.

Enacted

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

Sponsor: Representative Stubson
Last action: 2012-03-16
Official status: enrolled
Effective date: 3/15/2012

Plain English Breakdown

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

Bill History

2012-03-16 LSO
Assigned Chapter Number
2012-03-15 Governor
Governor Signed HEA0028
2012-03-07 Senate
S President Signed HEA No. 0028
2012-03-06 House
H Speaker Signed HEA No. 0028
2012-03-06 LSO
Assigned Number HEA0028
2012-03-06 Senate
S Passed 3rd Reading
2012-03-05 Senate
S Passed 2nd Reading
2012-03-02 Senate
S Passed CoW
2012-03-01 Senate
S Placed on General File
2012-03-01 Senate
S07 Recommended Do Pass
2012-02-28 Senate
S Introduced and Referred to S07
2012-02-28 Senate
S Received for Introduction
2012-02-28 House
H Passed 3rd Reading
2012-02-27 House
H Passed 2nd Reading
2012-02-24 House
H Passed CoW
2012-02-20 House
H Placed on General File
2012-02-20 House
H07 Recommended Do Pass
2012-02-15 House
H Introduced and Referred to H07
2012-02-14 House
H Received for Introduction
2012-02-13 LSO
Bill Number Assigned

Official Summary Text

HB0065

Bill No.:
HB0065
Drafter:

DKG

LSO No.:
12LSO-0278
Effective Date:
March
13, 2012

Enrolled Act No.:
HEA0028

Chapter No.:
CH0081

Prime Sponsor:
Representative
Stubson

Catch Title:
Banks-authorized
investments.

Subject:
Authorized
investments by banks.

Summary/Major Elements:

Current law restricts
investments banks may make.

This act amends a restriction
on investments in mutual funds consisting of obligations of the federal
government by removing a limitation that the obligations are unconditionally
guaranteed by the United States government.

Current Bill Text

Read the full stored bill text

WORKING DRAFT

ORIGINAL HOUSE
BILL

NO.
0065

ENROLLED ACT NO. 28, HOUSE OF REPRESENTATIVES

SIXTY-FIRST LEGISLATURE OF THE STATE OF WYOMING
2012 BUDGET SESSION

AN ACT relating to
banks and banking; modifying requirements for authorized investment of bank assets in

mutual funds;
and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.

W.S. 13
‑
3
‑
202(a)(vii) is amended to read:

13
‑
3
‑
202.

Investment in stock of other corporations.

(a)

No bank shall invest any of its assets in the capital stock of any other corporation except as follows:

(vii)

In mutual fund shares whose underlying securities consist solely of obligations of the United States treasury or other federal agency obligations
;

which are unconditionally guaranteed by the United States government;

Section 2.

This act is effective immediately upon completion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constitution.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the House.

Chief Clerk

1