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2011 Senate Bill 5913: Increasing the permissible deposit of public funds with credit unions
Introduced by Sen. Margarita Prentice, (D-Renton) (D) on April 5, 2011
To increase the permissible deposit of public funds with credit unions and authorizes the deposit of public funds at federally chartered credit unions.   Official Text and Analysis.
Referred to the Senate Financial Institutions, Housing & Insurance Committee on April 5, 2011
Referred to the Senate Rules Committee on January 19, 2012
Passed 43 to 2 in the Senate on February 9, 2012.
    See Who Voted "Yes" and Who Voted "No".
Specifies that state and federally chartered credit unions are public depositaries only for the purpose of receiving public deposits, which may total no more than the federal deposit insurance limit. The maximum amount of deposit applies to all funds attributable to any one depositor of public funds in any one credit union. Credit unions are subject to the same reporting requirements as are public depositaries.
Received in the House on February 11, 2012
Referred to the House Business & Financial Services Committee on February 11, 2012
Referred to the House Rules Committee on February 24, 2012
Passed 80 to 16 in the House on February 27, 2012.
    See Who Voted "Yes" and Who Voted "No".
Signed by Gov. Christine Gregoire on March 7, 2012
Provides that state and federally chartered credit unions are public depositaries only for the purpose of receiving public deposits, which may total no more than the federal deposit insurance limit. The maximum amount of deposit applies to all funds attributable to any one depositor of public funds in any one credit union. Credit unions are subject to the Public Deposit Protection Commission's regulatory authority and reporting requirements when acting as a public depositary.