Mr. President:
The Business and Labor Committee reports a favorable recommendation on 10th
Substitute H.B. 162, AMENDMENTS RELATED TO FINANCIAL INSTITUTIONS, by
Representative J. Alexander, with the following amendments:
1. Page 6, Lines 175-178
Passed - House Floor Amendments
2-14-2003: Delete lines 175-178
2. Page 6, Lines 178a
Passed - House Floor Amendments
2-14-2003: Delete " (3)(a) TO BE A CREDIT UNION
EXEMPT FROM TAXATION UNDER SECTION
7-9-34 A" and insert "(2)(a) A"
3. Page 6, Lines 178b
Passed - House Floor Amendments
2-14-2003: Delete " AND CONTINUALLY ADHERE TO"
4. Page 6, Lines 178c
Passed - House Floor Amendments
2-14-2003: Delete " SUBSECTIONS (1) AND (2)" and insert
"Subsection (1)"
5. Page 6, Lines 178e
Passed - House Floor Amendments
2-14-2003: Delete " SUBSECTIONS (1) AND (2)" and insert
"Subsection (1)"
8. Page 6a, Line178j
House Floor Amendments
2-18-2003: Delete " RETAINED EARNINGS" and insert "net
income" and delete " CONSTRUCTION" and insert
"improvements"
9. Page 6a, Line178k
House Floor Amendments
2-18-2003: Delete " CONTINUING"
10. Page 7, Lines 186-186a
Passed - House Floor Amendments
2-14-2003: Delete " AS DETERMINED BY THE
COMMISSIONER"
11. Page 7, Lines 187-187a
Passed - House Floor Amendments
2-14-2003: Delete " AS DETERMINED BY THE
COMMISSIONER"
12. Page 25, Line 751: After "(3)" insert "or (5)"
13. Page 25, Line 757: Delete "Subsection 7-9-52(5)" and insert "Subsection
7-9-52(6)"
14. Page 26, Line 773: After line 773 insert:
"(5) Notwithstanding Section 7-9-53, a credit union
may have a field of membership that is less restrictive
than the field of membership described in Subsection
(1), under the following conditions:
16. Page 26, Line 781: Delete "(5)" and insert "(6)"
17. Page 27, Line 822: After "county" insert "except to the extent permitted
by Subsection 7-9-51(5)"
18. Page 34, Lines 1036a-1036h
Passed - House Floor Amendments
2-14-2003: Delete lines 1036a-1036h and insert:
"(1)(a) A credit union organized under this chapter is
a nonexempt credit union under this section on the
day on which:
(i) on or after May 5, 2003 the credit union has a field
of membership as evidenced by the bylaws of the
credit union that includes all residents of two or more
counties; and
(ii) at least two of the counties described in
Subsection (1)(a)(i) are counties of the first or second
class as classified by Section 17-50-501."
19. Pages 34, Lines 1036r-1036s
Passed - House Floor Amendments
2-14-2003: Delete lines 1036r-1036s
20. Page 34a, Line 1036z
Passed - House Floor Amendments
2-14-2003: After line 1036z insert:
"(3) Regardless of whether or not a credit union has
located branches in two or more counties in this state,
a credit union organized under this chapter does not
become a nonexempt credit union if the field of
membership of the credit union does not meet the
requirements of Subsection (1)."
21. Page 49, Line 1504: After "other fees on" insert "banks and"
22. Page 50a, Line 1538
House Floor Amendments
2-18-2003: After "(2)" insert "(a)" and after ";" insert "and (b)
bracket Subsection 7-9-3(9) and renumber the
remaining subsections of Section 7-9-3 accordingly;"
23. Page 51, Line 1556: After "(3)" insert "or (5)"
24. Page 51, Line 1560: After "(3)" delete the remainder of line 1560 and
insert ", (4), and (5);"
25. Page 51, Line 1561: Delete line 1561
26. Page 51, Line 1562: Delete "(b)" and insert "(9)(a)" and delete "and"
27. Page 51, Line 1563: Delete "(c)" and insert "(b)" and after "accordingly;"
insert "and (c) change all cross references to
Subsection 7-9-52(6) in this bill to Subsection
7-9-52(5);"
Respectfully,
Parley Hellewell
Committee Chair
Voting: 5-3-0
3 HB0162.SC1.wpd mcperry/MCP PO/RCN 2/25/03 7:02 pm