Bank And Credit Union Reliance On A Certificate Of Trust
| Type | Bill |
|---|---|
| Session | 2017 Regular Session |
| Subjects |
Concerning reliance by a financial institution on a certificate of trust.
Bill Summary:
Currently, a bank may rely on a certificate of trust when trustees open a trust deposit account. The bill requires trustees to provide additional information in a certificate of trust. The bill also permits a bank to rely on a certificate of trust for any transaction between the bank and the trustees unless the bank has knowledge that the certificate of trust is contrary to the trust agreement. Knowledge will not be inferred solely because the bank has a copy of the trust agreement.
The bill allows credit unions to rely on a certificate of trust in the same manner as a bank.
(Note: This summary applies to the reengrossed version of this bill as introduced in the second house.)
Related Documents & Information
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 17-1157 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. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 17-1157 to the Committee of the Whole. | The motion passed on a vote of 12-0. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 03/13/2017 | Third Reading | BILL |
35
AYE
0
NO
0
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 02/22/2017 | Third Reading | BILL |
62
AYE
3
NO
0
OTHER
|
Vote record |
| Date | Location | Action |
|---|---|---|
| 03/23/2017 | Governor | Governor Signed |
| 03/20/2017 | Governor | Sent to the Governor |
| 03/17/2017 | Senate | Signed by the President of the Senate |
| 03/17/2017 | House | Signed by the Speaker of the House |
| 03/13/2017 | Senate | Senate Third Reading Passed - No Amendments |
| 03/10/2017 | Senate | Senate Second Reading Passed - No Amendments |
| 03/07/2017 | Senate | Senate Committee on Finance Refer Unamended - Consent Calendar to Senate Committee of the Whole |
| 02/22/2017 | Senate | Introduced In Senate - Assigned to Finance |
| 02/22/2017 | House | House Third Reading Passed - No Amendments |
| 02/21/2017 | House | House Second Reading Passed - No Amendments |
| 02/16/2017 | House | House Committee on Business Affairs and Labor Refer Unamended to House Committee of the Whole |
| 02/06/2017 | House | Introduced In House - Assigned to Business Affairs and Labor |
Prime Sponsor
Sponsor
Co-Sponsor
| Effective Date | Chapter # | Title | Documents |
|---|---|---|---|
| 03/23/2017 | 77 | Bank & Credit Union Reliance On A Cert Of Trust |