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Committee clears change allowing state to deposit amounts greater than federal insurance cap with collateral protections
2664357 · March 5, 2025
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Summary
The committee approved Senate Bill 11-03 to allow the state treasurer to deposit sums larger than the federal insurance cap (currently $250,000) into credit unions, subject to standard collateralization practices. The bill passed the committee and will move to the floor with a due pass.
Representative Brent Crane (District 13) presented Senate Bill 11-03 on March 5, 2025, a statutory change that removes a long-standing cap on the amount the state treasurer may deposit in credit unions and replaces it with a requirement that…
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