HB 1669-S.E - DIGEST
(SEE ALSO PROPOSED 2ND SUB)

Allows the deposit of public funds into credit unions.

Requires a credit union approved as a public depositary by the public deposit protection commission to at all times pledge and segregate eligible securities in an amount equal to one hundred percent of all public funds on deposit in the public depositary.

Prohibits a credit union approved as a public depositary by the public deposit protection commission from accepting funds in excess of certain deposit insurance limits.