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Senate hears technical fix to align Oregon law with Federal Home Loan Bank collateral rules (SB 102)
Summary
Senate Committee on Finance and Revenue staff summarized SB 102 on Feb. 3 as a technical bill to align Oregon law with federal rules so Federal Home Loan Banks can enforce claims on collateral pledged by insurance company members in delinquency proceedings.
Senate Committee on Finance and Revenue staff summarized Senate Bill 102 on Monday, Feb. 3, describing it as a set of provisions to harmonize state law with federal law so a Federal Home Loan Bank (FHLB) can exercise rights to collateral pledged by insurance company members in delinquency or receivership proceedings.
Rick Metzger, testifying for the Federal Home Loan Bank of Des Moines and partners, said the bill "harmonizes state and federal law" and would allow the FHLB to treat…
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