House Journal: Page 942: Monday, March 25, 2002
deposit of uninsured public funds, making related changes, making
penalties applicable, and providing for applicability, amended by the
Senate, and moved that the House concur in the following Senate
amendment H-8128:
H-8128
1 Amend House File 681, as amended, passed, and
2 reprinted by the House, as follows:
3 1. Page 1, by inserting before line 1 the
4 following:
5 "Section 1. Section 12C.1, subsection 2, paragraph
6 c, Code Supplement 2001, is amended to read as
7 follows:
8 c. "Bank" means a corporation engaged in the
9 business of banking authorized by law to receive
10 deposits and whose deposits are insured by the bank
11 insurance fund or the savings association insurance
12 fund of the federal deposit insurance corporation and
13 includes any office of a bank. "Bank" also means a
14 savings and loan or savings association."
15 2. Page 1, line 1, by inserting after the word
16 "Code" the following: "Supplement".
17 3. Page 1, by inserting after line 20 the
18 following:
19 "Sec. . Section 12C.6A, subsection 2, Code
20 2001, is amended to read as follows:
21 2. In addition to establishing a minimum interest
22 rate for public funds pursuant to section 12C.6, the
23 committee composed of the superintendent of banking,
24 the superintendent of credit unions, the auditor of
25 state or a designee, and the treasurer of state shall
26 develop a list of financial institutions eligible to
27 accept state public funds. The committee shall
28 require that a financial institution seeking to
29 qualify for the list shall annually provide the
30 committee a written statement that the financial
31 institution has complied with the requirements of this
32 chapter and has a commitment to community reinvestment
33 consistent with the safe and sound operation of a
34 financial institution, unless the financial
35 institution has received a rating of satisfactory or
36 higher pursuant to the federal Community Reinvestment
37 Act, 12 U.S.C. § 2901 et seq., and such rating is
38 certified to the committee by the superintendent of
39 banking. To qualify for the list a financial
40 institution must demonstrate a continuing commitment
41 to meet the credit needs of the local community in
42 which it is chartered."
43 4. Page 2, by striking lines 2 through 18 and
44 inserting the following:
© 2002 Cornell College and
League of Women Voters of Iowa
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