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s_fin_2016a_2016-02-18t11:26:27z2 Hearing Summary

Date: 02/18/2016



Final

BILL SUMMARY for SB16-125



SENATE COMMITTEE ON FINANCE


Votes: View--> Action Taken:
Adopt Amendment L.003 (Attachment A). The motion p

Refer Senate Bill 16-125, as amended, to the Commi
Pass Without Objection

PASS







11:35 AM -- SB16-125



Senator Holbert, prime sponsor, presented Senate Bill 16-125, which allows the board of directors of a credit union to appoint an audit committee in lieu of a supervisory committee, provided the audit committee performs the statutory duties of a supervisory committee. It also allows a credit union to provide reasonable compensation to an officer, director, or committee member for his or her service.



11:37 AM --
Mr. Austin DeBey, representing the Mountain West Credit Union Association, testified in support of the bill.





11:41 AM



Senator Holbert distributed and explained Amendment L.003 (Attachment A).



16SenateFin0218AttachA.pdf16SenateFin0218AttachA.pdf

BILL: SB16-125
TIME: 11:42:18 AM
MOVED: Holbert
MOTION: Adopt Amendment L.003 (Attachment A). The motion passed without objection.
SECONDED:
VOTE
Holbert
Johnston
Kerr
Hill
Neville T.
YES: 0 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: Pass Without Objection




BILL: SB16-125
TIME: 11:44:06 AM
MOVED: Holbert
MOTION: Refer Senate Bill 16-125, as amended, to the Committee of the Whole, with a recommendation that it be placed on the consent calendar. The motion passed on a vote of 5-0.
SECONDED:
VOTE
Holbert
Yes
Johnston
Yes
Kerr
Yes
Hill
Yes
Neville T.
Yes
YES: 5 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS







11:44 AM



The committee adjourned.




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