SB 590 (1994): relative to the investment of trust funds by banks in affiliated investments.

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@misc{bill-1994-sb590, title = {SB 590 (1994): relative to the investment of trust funds by banks in affiliated investments.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/1994/sb590}, note = {Accessed 24 Oct. 2026} }

SB 590 (1994)

relative to the investment of trust funds by banks in affiliated investments.

  • Status: Killed
  • Term: 1993-1994
  • House committee: Commerce, Small Business and Consumer Affairs
  • Senate committee: Banks
  • Subject: Miscellaneous

The Story

It was introduced on January 5, 1994 and referred to the Senate Banks committee. The committee held a public hearing on January 26, 1994. The committee recommended that the Senate pass it. On February 3, 1994 the Senate voted to pass it on a voice vote. It crossed to the House on February 15, 1994 and was referred to the House Commerce, Small Business and Consumer Affairs committee. The committee held a public hearing on April 5, 1994. The committee held work sessions on April 19, 1994 and April 26, 1994. The majority of the committee recommended that the House kill it by a vote of 10–4. On May 5, 1994 the House voted to kill it on a voice vote.

Sponsors

  • Sen. Fraser (SD4) (prime sponsor)
  • Sen. Russman (SD19)

Hearings and Sessions

  • January 26, 1994, 2:00 PM: hearing, Senate Banks, RM103,LOB
  • April 5, 1994, 11:00 AM: hearing, House Commerce, Small Business and Consumer Affairs, RM207,LOB
  • April 19, 1994, 10:00 AM: subcommittee work session, House Commerce, Small Business and Consumer Affairs, RM207,LOB
  • April 26, 1994, 9:30 AM: subcommittee work session, House Commerce, Small Business and Consumer Affairs, RM207,LOB

Votes

  • February 3, 1994, Senate: Ought to Pass — voice vote, passed
  • May 5, 1994, House: Inexpedient to Legislate — voice vote, passed

The Docket

  • January 5, 1994: INTRODUCED AND REF TO BANKS; SJ1,P11
  • January 26, 1994: HEARING JAN26 02:00 RM103,LOB FOR: BANKS
  • February 2, 1994: COMM REPORT OTP FEB03
  • February 3, 1994: PASSED VV; SJ3,P42 + 77
  • February 15, 1994: INTRODUCED AND REF TO COMMERCE; HJ26,P756
  • February 16, 1994: IN SEAT POCKET ON 02/15/94 DUE ON 04/28/94
  • April 5, 1994: HEARING APR05 11:00 RM207,LOB FOR: COMMERCE
  • April 19, 1994: SUBCOM WORK SESSION APR19 10:00 RM207,LOB FOR: COMMERCE
  • April 26, 1994: SUBCOM WORK SESSION APR26 09:30 RM207,LOB FOR: COMMERCE
  • April 27, 1994: MAJ REPORT ITL FOR MAY05 (VOTE 10-4)
  • May 5, 1994: ITL REPORT ADOPTED VV; HJ61,P1954

Laws It Would Change

Related Bills

  • SB 139 (1997): authorizing banks to invest trust funds in bank-affiliated investments.

From the General Court