SHB 1669 -
By Representative Hunt
WITHDRAWN 03/09/2009
On page 2, beginning on line 11, strike all material through
"deposits" on line 21, and insert the following:
"(6) The "maximum liability" of a public depositary on any given
date means a sum equal to ten percent of (a) all public deposits held
by the qualified public depositary on the then most recent commission
report date, or (b) the average of the balances of said public deposits
on the last four immediately preceding reports required pursuant to RCW
39.58.100, whichever amount is greater, less any assessments paid to
the commission pursuant to this chapter since the then most recent
commission report date"
EFFECT: Deletes all changes made to the definition of "maximum liability." Removes the requirement that a credit union public depositary's maximum liability is a sum equal to 100 percent of all collateral posted to secure the public deposits.