Post Session Report: February 11, 2013

SB 371 PN 294 (Brubaker): Repeals the Savings Association Code of 1967, eliminating provisions for incorporation and organization, for names, for offices, for directors, officers, employees and attorneys, for members, for corporate powers, for savings operations, earnings, account insurance and reserves, for investment operations, for amendment of articles, for mergers, consolidations, conversions and reorganizations, for voluntary and involuntary dissolution and distribution of assets upon insolvency, for foreign and Federal associations, for provisions applicable to Department of Banking and for penalties and criminal provisions. Sen. Brubaker offered amendment A00159, which is technical in nature. The bill went over as amended.