HCS HB 914 -- DIRECTOR OF THE DIVISION OF FINANCE (Cunningham)

COMMITTEE OF ORIGIN:  Committee on Financial Institutions

Currently, the circuit court in the judicial district in which
the principal office of a failed bank is located must approve the
appointment made by the Director of the Division of Finance
within the Department of Insurance, Financial Institutions and
Professional Registration of the Federal Deposit Insurance
Corporation (FDIC) as the liquidating agent of a bank insured by
the FDIC.  This substitute removes the provision requiring the
appointment's approval by the circuit court.

The substitute contains an emergency clause.

FISCAL NOTE:  No impact on state funds in FY 2010, FY 2011, and
FY 2012.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:25 am