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92_HB4357sam001
LRB9212373JSpram01
1 AMENDMENT TO HOUSE BILL 4357
2 AMENDMENT NO.___. Amend House Bill 4357 on page 3 by
3 replacing line 11 with the following:
4 "asset ratio falls below 2%. In calculating the danger of
5 insolvency ratio, secondary capital shall be excluded. For
6 purposes of Section 61, a credit union is also in "danger of
7 insolvency" if the Department is unable to"; and
8 on page 7 by replacing lines 4, 5, and 6 with the following:
9 "union organization in which a credit union loans, invests,
10 or delegates substantially all managerial duties and
11 responsibilities when he determines that such examinations";
12 and
13 on page 9, line 13, by replacing "order;" with "order; to the
14 appropriate law enforcement authorities when the Director or
15 the credit union reasonably believes the credit union, which
16 the Director has caused to be examined, has been a victim of
17 a crime;"; and
18 on page 16, line 17, by deleting "and benefits"; and
19 on page 18 by replacing lines 13 through 17 with the
20 following:
-2- LRB9212373JSpram01
1 "operations of the credit union, provided that prior approval
2 is received from the Department before becoming involved with
3 a credit union organization by loaning to, investing in, or
4 delegating substantially all managerial duties and
5 responsibilities to a such credit union organization,; and
6 fix".