Amendment SA1-SB451

LRBa1284/1

ARG:amn

2021 - 2022 LEGISLATURE

SENATE AMENDMENT 1, TO SENATE BILL 451

February 18, 2022 - Offered by Senator Stafsholt.

SB451-SA1,1,1 At the locations indicated, amend the bill as follows:

SB451-SA1,1,2 1. Page 1, line 8: before “repealing" insert “and".

SB451-SA1,1,4 2. Page 1, line 8: delete the material beginning with “Institutions," and ending with “procedures." on line 9 and substitute “Institutions.”.

SB451-SA1,1,5 3. Page 4, line 6: delete lines 6 to 11.

SB451-SA1,1,8 4. Page 5, line 23: delete “Issue" and substitute “In addition to the existing rights of low-income-designated and community development credit unions to issue other forms of capital, issue".

SB451-SA1,1,11 5. Page 5, line 24: after “conditions" insert “, including the safety and soundness of the proposed use of the capital and the overall condition of the credit union,".

SB451-SA1,2,2 6. Page 5, line 25: after “unions." insert “This approval shall be in writing and obtained prior to the issuance of the supplemental capital.".

SB451-SA1,2,4 7. Page 6, line 1: delete the material beginning with that line and ending with page 8, line 15.

SB451-SA1,2,5 8. Page 8, line 25: delete that line.

SB451-SA1,2,7 9. Page 11, line 6: delete the material beginning with that line and ending with page 12, line 17.

SB451-SA1,2,8 (End)