l9n/ Oregon

2009 Regular Session

Senate Bill 438

Provides that fidelity bond or letter of credit required of credit union must be in amount required in National Credit Union Administration regulations.

Became law as Chapter 234, Oregon Laws 2009, signed June 4, 2009, 120 days after it was filed. In force from June 4, 2009.

What it does

The synopsis the Legislative Assembly published with the bill.

Provides that fidelity bond or letter of credit required of credit union must be in amount required in National Credit Union Administration regulations. Defines organization for purposes of determining credit union membership to include corporation, limited liability company, partnership or association, trust, estate or other entity. Requires that election or appointment of credit union executive officers and other officials occur within 60 days after organizational meeting or annual meeting. Raises limit from $25,000 to $100,000 for loans credit union may make to credit union officials without requiring approval of board of directors. Requires credit union to establish reserve for loan losses in accordance with generally accepted accounting principles issued by Financial Accounting Standards Board. Declares emergency, effective on passage.

Sponsors

Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.

In the Senate

    1 co-sponsor

    SBT

    Its course

    February 4 to June 4, 2009, on one scale. In the top row each mark is a day something happened; taller marks are busier days.

    Each committee stop sits inside its chamber.

    Every action21 actions on 19 days

    In the SenateFeb 4 to Mar 2448 days

    Waiting for a committeeFeb 4 to Feb 117 days

    Business and TransportationFeb 11 to Mar 1835 days

    In the House of RepresentativesMar 24 to May 2158 days

    Waiting for a committeeMar 24 to Apr 18 days

    Consumer ProtectionApr 1 to May 1342 days

    With the GovernorMay 21 to Jun 414 days

    Votes

    Yeas to nays, as the Legislative Assembly recorded them. Committee votes are set in.

    • Senate, third reading30–0

      Passed · Mar 24

    • House of Representatives, third reading60–0

      Passed · May 21

    Amendments

    Each amendment offered, and what became of it.

    • Senate committee amendmentAdopted

      Adopted Mar 18

    Text

    Each version as the Legislative Assembly printed it.

    l9n doesn't hold this bill's text yet.

    What happened

    In l9n's words, one line for each step. Every action as the Legislative Assembly published it is below.

    In the Senate Feb 4 – Mar 24

    1. Feb 4Introduced
    2. Feb 11Sent to Business and Transportation
    3. Mar 9Heard in Business and Transportation
    4. Mar 16Heard in Business and Transportation
    5. Mar 18Business and Transportation recommended it as amended
    6. Mar 20Read a second time
    7. Mar 24Passed the Senate, 30 to 0

    In the House of Representatives Mar 25 – May 21

    1. Mar 25Arrived in the House of Representatives
    2. Apr 1Sent to Consumer Protection
    3. May 11Heard in Consumer Protection
    4. May 13Consumer Protection recommended it
    5. May 14Read a second time
    6. May 21Passed the House of Representatives, 60 to 0

    To the Governor May 29 – Jun 4

    1. May 29Signed in the Senate
    2. Jun 1Signed in the House of Representatives
    3. Jun 4Signed by the Governor
    4. Became chapter 234 of Oregon Laws 2009
    5. In force from June 4, 2009
    All 21 actions, as published
    1. Feb 4Introduction and first reading. Referred to President's desk.Senate
    2. Feb 11Referred to Business and Transportation.Senate
    3. Mar 9Public Hearing held.Senate
    4. Mar 16Work Session held.Senate
    5. Mar 18Recommendation: Do pass with amendments. (Printed A-Eng.)Senate
    6. Mar 20Second reading.Senate
    7. Mar 24Third reading. Carried by Metsger. Passed.Senate
    8. Mar 25First reading. Referred to Speaker's desk.House of Representatives
    9. Apr 1Referred to Consumer Protection.House of Representatives
    10. May 11Public Hearing and Work Session held.House of Representatives
    11. May 13Recommendation: Do pass.House of Representatives
    12. May 14Second reading.House of Representatives
    13. May 15Rules suspended. Carried over to May 19, 2009 Calendar.House of Representatives
    14. May 19Rules suspended. Carried over to May 20, 2009 Calendar.House of Representatives
    15. May 20Rules suspended. Carried over to May 21, 2009 Calendar.House of Representatives
    16. May 21Third reading. Carried by Barton. Passed.House of Representatives
    17. May 29President signed.Senate
    18. Jun 1Speaker signed.House of Representatives
    19. Jun 4Governor signed.Senate
    20. Jun 4Chapter 234, 2009 Laws.Senate
    21. Jun 4Effective date, June 4, 2009.Senate