FIFTY-FIRST LEGISLATURE SB 180/a

FIRST SESSION, 2013

February 15, 2013

Mr. President:

    Your CORPORATIONS AND TRANSPORTATION COMMITTEE, to whom has been referred

SENATE BILL 180

has had it under consideration and reports same with recommendation that it DO PASS, amended as follows:

    1. On page 2, line 14, after the period, insert "All trust companies that have been issued certificates pursuant to the Trust Company Act as of December 31, 2012 shall meet the increased paid-up capital requirement of five hundred thousand dollars ($500,000) on or before December 31, 2017.".

    2. On page 3, between lines 10 and 11, insert the following new section:

    "SECTION 5. EFFECTIVE DATE.--

         A. The effective date of the provisions of Sections 1 through 3 of this act is June 14, 2013.

         B. The effective date of the provisions of Section 4 of this act is July 1, 2017.".

                               Respectfully submitted,

                               ___________________________________

                               SENATOR PHIL A. GRIEGO, CHAIRMAN

Adopted_______________________ Not Adopted_______________________

          (Chief Clerk) (Chief Clerk)

                  Date ________________________

The roll call vote was 8 For 0 Against

Yes:     8

No:      0

Excused: Keller, Rue

Absent:  None

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