Text: SSB03162                          Text: SSB03164
Text: SSB03100 - SSB03199               Text: SSB Index
Bills and Amendments: General Index     Bill History: General Index



Senate Study Bill 3163

Bill Text

PAG LIN
  1  1    Section 1.  NEW SECTION.  533.50  CREDIT UNION SERVICE
  1  2 ORGANIZATION – SERVICES.
  1  3    An organization, corporation, or association, the
  1  4 membership or ownership of which is primarily confined or
  1  5 restricted to credit unions or organizations of credit unions,
  1  6 and which primarily provides services to credit unions,
  1  7 organizations of credit unions, or credit union members, may
  1  8 provide trust services and act in a fiduciary capacity as
  1  9 approved by, and pursuant to rules adopted by, the
  1 10 superintendent.  The organization, corporation, or association
  1 11 is subject to the state corporate income tax.  
  1 12                           EXPLANATION 
  1 13    This bill provides that an organization, corporation, or
  1 14 association, the membership or ownership of which is primarily
  1 15 confined or restricted to credit unions or organizations of
  1 16 credit unions, and which primarily provides services to credit
  1 17 unions, organizations of credit unions, or credit union
  1 18 members, may provide trust services and act in a fiduciary
  1 19 capacity as approved by, and pursuant to rules adopted by, the
  1 20 superintendent.  The bill provides that such organization,
  1 21 corporation, or association is subject to the state corporate
  1 22 income tax.  
  1 23 LSB 5928SC 78
  1 24 mj/as/5.1
     

Text: SSB03162                          Text: SSB03164
Text: SSB03100 - SSB03199               Text: SSB Index
Bills and Amendments: General Index     Bill History: General Index

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