DEPOSIT ACCTS-BOND-CT ORDER
Synopsis of Bill as introduced:
Amends the Adverse Claims to Deposit Accounts Act. Requires a
financial institution to recognize an adverse claim to a deposit
account if ordered to do so by a court. Provides that a financial
institution may, in its discretion, recognize an adverse claim if the
person making the claim posts a bond. Current law requires
recognition of the claim if a bond is posted. Effective immediately.
FISCAL NOTE (Dpt. of Financial Inst.)
HB 1923 would have no fiscal impact on the Dept.
STATE MANDATES FISCAL NOTE
In the opinion of DCCA, HB1923 fails to create a State mandate
under the State Mandates Act.
HOME RULE NOTE
HB 1923 does not preempt home rule authority.
Last action on Bill: PUBLIC ACT.............................. 90-0163
Last action date: 97-07-23
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status