Date: 02/13/2014
Final
BILL SUMMARY for HB14-1215
HOUSE COMMITTEE ON BUSINESS, LABOR, ECONOMIC, & WORKFORCE DEVELOPMENT
| Votes: View--> | Action Taken: |
| Refer House Bill 14-1215 to the Committee of the W | PASS |
03:24 PM -- House Bill 14-1215
Representative Ginal, sponsor, presented House Bill 14-1215, concerning the ability of a federal home loan bank to enforce its rights with regard to collateral subject to a security agreement. The bill prohibits a receiver or liquidator of an insolvent insurer from avoiding obligations to a federal home loan bank with regard to collateral under a security agreement. Any transfer of, or obligation to transfer, money or other property in such agreements involving a federal home loan bank must be honored, except if the transfer is made with actual intent to hinder, delay, or defraud existing or future creditors. Representative Ginal discussed the merits of the bill and distributed three letters of support from the American Council of Life Insurers, Mountain West Credit Union Association, and Heartland Community Bankers Association (Attachments C, D, and E, respectively).
140213 AttachC.pdf
140213 AttachD.pdf
140213 AttachE.pdf
The following individuals testified on the bill:
03:28 PM -- Sonia Betsworth, representing the Federal Home Loan Bank of Topeka, testified in support of the bill.
03:35 PM -- Barbara Walker, representing the Independent Bankers of Colorado, testified in support of the bill.
03:36 PM -- Patrick Boyle, representing Property Casualty Insurers Association of America and Heartland Community Bankers Association, testified in support of the bill.
03:38 PM -- Sonia Betsworth returned to the table to respond to questions from the committee.
03:40 PM
Representative Ginal made closing comments.
 | |
| BILL: | HB14-1215 | |
| TIME: | 03:40:48 PM |
| MOVED: | Kraft-Tharp |
| MOTION: | Refer House Bill 14-1215 to the Committee of the Whole. The motion passed on a vote of 11-0. |
| SECONDED: | Szabo |
| VOTE |
| Exum | Yes |
| Hamner | Yes |
| Holbert | Yes |
| Navarro | Yes |
| Nordberg | Yes |
| Rosenthal | Yes |
| Ryden | Yes |
| Szabo | Yes |
| Wright | Yes |
| Kraft-Tharp | Yes |
| Williams | Yes |
| | |
Final YES: 11 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS |
03:45 PM
The committee discussed its upcoming schedule.
03:46 PM
The committee adjourned.