Senate

Senate
Record of Committee Proceedings

Committee on Labor, Transportation and Financial Institutions

Senate Bill 407

Relating to: “good funds" requirements for loan closings and the powers and duties of credit unions and their directors, officers, employes and members.

By Senator C. Potter, by request of the Ginger Larson, Director of the Office of Credit Unions.

January 20, 1998 Referred to committee on Labor, Transportation and Financial Institutions.

February 17, 1998 PUBLIC HEARING HELD

Present: (6) Senators Plache, Moore, Decker, Zien, Darling and Farrow.

Absent: (0) None.

Appearances for

· Sen. Cal Potter, Author of SB 407

· Ginger Larson, DFI - Office of Credit Unions

· Pete Christianson, Wisc. Land Title Assoc.

Appearances against

· None.

Appearances for Information Only

· None.

Registrations for

· Dave Anderson, Dept. of Financial Institutions

· Ruthann Nelson, Wis. Federation of Cooperatives

· John T. Dickert, WI Credit Union League

Registrations against

· None.

February 25, 1998 EXECUTIVE SESSION - POLLING

Moved by Senator Plache, that Senate Substitute Amendment LRB-s0420/3

be recommended for introduction and adoption.

Ayes: (6) Senator Plache, Moore, Decker, Zien, Darling and Farrow.

Noes: (0) None.

Absent: (0) None.

INTRODUCTION AND ADOPTION RECOMMENDED, Ayes 6, Noes 0, Absent 0

Moved by Senator Plache, that Senate Bill 407

be recommended for passage as amended.

Ayes: (6) Senators Plache, Moore, Decker, Zien, Darling and Farrow.

Noes: (0) None.

Absent: (0) None.

PASSAGE AS AMENDED RECOMMENDED, Ayes 6, Noes 0, Absent 0

John G. Anderson

Committee Clerk