Text: S03103 Text: S03105 Text: S03100 - S03199 Text: S Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Amend Senate File 319 as follows: 1 2 #1. Page 1, line 7, by inserting after the word 1 3 "loan" the following: "or savings association". 1 4 #2. Page 1, by inserting after line 17 the 1 5 following: 1 6 "Sec. . Section 12C.1, subsection 3, paragraph 1 7 b, Code 1999, is amended to read as follows: 1 8 b. If a depository is a bank,thenpublic deposits 1 9 in the bank shall be secured pursuant to sections 1 1012C.21,12C.23,and 12C.24." 1 11 #3. Page 3, by striking lines 4 through 11 and 1 12 inserting the following: 1 13 "(2) Public bonds or obligations of this state or 1 14 a political subdivision of this state. 1 15 (3) Public bonds or obligations of another state 1 16 or a political subdivision of another state whose 1 17 bonds are rated within the two highest classifications 1 18 of prime as established by at least one of the 1 19 standard rating services approved by the 1 20 superintendent of banking pursuant to chapter 17A. 1 21 (4) To the extent of the guarantee, loans, 1 22 obligations, or". 1 23 #4. By striking page 3, line 22, through page 4, 1 24 line 5, and inserting the following: 1 25 "(5) First lien mortgages which are valued 1 26 according to practices acceptable to the treasurer of 1 27 state. 1 28 (6) Investments in an open-end management 1 29 investment company registered with the federal 1 30 securities and exchange commission under the federal 1 31 Investment Company Act of 1940, 15 U.S.C. } 80(a), 1 32 which is operated in accordance with 17 C.F.R. } 1 33 270.2a-7. 1 34 Direct obligations of, or obligations that are 1 35 insured or fully guaranteed as to principal and 1 36 interest by, the United States of America, which may 1 37 be used to secure the deposit of public funds under 1 38 subparagraph (1), include investments in an investment 1 39 company or investment trust registered under the 1 40 federal Investment Company Act of 1940, 15 U.S.C. } 1 41 80a, the portfolio of which is limited to the United 1 42 States government obligations described in 1 43 subparagraph (1) and to repurchase agreements fully 1 44 collateralized by the United States government 1 45 obligations described in subparagraph (1), if the 1 46 investment company or investment trust takes delivery 1 47 of the collateral either directly or through an 1 48 authorized custodian." 1 49 #5. Page 4, by striking lines 30 and 31, and 1 50 inserting the following: 2 1 "c. The securities shall be deposited with the 2 2 federal reserve bankof Chicago, Illinois, the federal 2 3 home loan bank". 2 4 #6. Page 5, by striking line 17 and inserting the 2 5 following: "Moines, Iowa, shall report a description, 2 6 the par value, and the market value". 2 7 #7. Page 5, by striking lines 20 and 21 and 2 8 inserting the following: "union." 2 9 #8. Page 7, line 8, by inserting after the word 2 10 "principal" the following: "and accrued interest". 2 11 #9. Page 7, lines 11 and 12, by striking the words 2 12 "public body treasurer" and inserting the following: 2 13 "treasurerpublic body". 2 14 #10. Page 11, by striking lines 26 through 28 and 2 15 inserting the following: 2 16 "b. The recovery of any loss to public depositors 2 17 shall begin with applicable deposit insurance. The". 2 18 #11. Page 12, by striking lines 22 through 24 and 2 19 inserting the following: "deposits held by all banks. 2 20 Each bank shall pay its assessment to the treasurer". 2 21 #12. Page 13, by inserting after line 14 the 2 22 following: 2 23 "Sec. ___. Section 12C.21, Code 1999, is repealed. 2 24 Sec. ___. EFFECTIVE DATE. This Act, being deemed 2 25 of immediate importance, takes effect upon enactment." 2 26 #13. Title page, line 3, by inserting after the 2 27 word "deposits" the following: ", and providing an 2 28 effective date". 2 29 #14. By renumbering as necessary. 2 30 2 31 2 32 2 33 JEFF LAMBERTI 2 34 2 35 2 36 2 37 PATRICK J. DELUHERY 2 38 SF 319.301 78 2 39 mj/cf
Text: S03103 Text: S03105 Text: S03100 - S03199 Text: S Index Bills and Amendments: General Index Bill History: General Index
© 2000 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Fri Mar 3 13:35:02 CST 2000
URL: /DOCS/GA/78GA/Legislation/S/03100/S03104/000303.html
jhf