SB 5 (1997): relative to deposits and investments by trustees of town trust funds in credit unions and in mutual funds.
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@misc{bill-1997-sb5, title = {SB 5 (1997): relative to deposits and investments by trustees of town trust funds in credit unions and in mutual funds.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/1997/sb5}, note = {Accessed 24 Oct. 2026} }
SB 5 (1997)
relative to deposits and investments by trustees of town trust funds in credit unions and in mutual funds.
- Status: Signed into law
- Term: 1997-1998
- House committee: Municipal and County Government
- Senate committee: Banks
- Subject: Miscellaneous
- Chapter law: 181
The Story
It was introduced on January 8, 1997 and referred to the Senate Banks committee. The committee held a public hearing on January 16, 1997. The committee voted unanimously, 3–0, to recommend that the Senate pass it with changes. On February 6, 1997 the Senate voted to pass it with changes on a voice vote. It crossed to the House on February 19, 1997 and was referred to the House Municipal and County Government committee. The majority of the committee recommended that the House pass it with changes unanimously, 19–0, and the report was placed on the consent calendar. On April 30, 1997 the House voted to pass it with changes. On May 20, 1997 the Senate voted to agree to the other chamber's changes on a voice vote. An enrolled bill amendment (0023) was adopted on May 28, 1997. These correct technical errors found after passage. An enrolled bill amendment () was adopted on a voice vote on May 29, 1997. These correct technical errors found after passage. The bill was enrolled on June 10, 1997 — the final check of the text before it goes to the governor. The governor signed it on June 17, 1997, making it Chapter 181 of the session laws. It took effect on August 16, 1997.
Sponsors
- Sen. Rubens (SD5) (prime sponsor)
Hearings and Sessions
- January 16, 1997, 2:00 PM: hearing, Senate Banks, RM102,LOB
- April 9, 1997, 10:00 AM: hearing, House Municipal and County Government, RM301,LOB
Votes
- February 6, 1997, Senate: Ought to Pass with Amendment — voice vote, passed
- May 20, 1997, Senate: Concur — voice vote, passed
The Docket
- January 8, 1997: INTRODUCED AND REF TO BANKS; SJ1,P13
- January 16, 1997: HEARING JAN16 02:00 RM102,LOB FOR: BANKS
- February 4, 1997: COMM REPORT OTP/AM FOR FEB 06 (VOTE 3-0) SC11, P4
- February 4, 1997: PROP COMM AM <0083> (NEW TITLE); SC11,P4-5
- February 6, 1997: COMM AM, AA VV; PASSED/ADOPTED WITH AM VV; SJ4, P50-51 & 65
- February 19, 1997: INTRODUCED AND REF TO MUN & CNTY GOVT; HJ29,P578
- February 25, 1997: COPY TO CHAIRMAN ON 02/25/97 DUE ON 04/29/97
- March 27, 1997: //CANCELLED**STORM//HEARING APR01 01:30 RM301,LOB FOR: M&CG
- April 1, 1997: **RESCHEDULED HEARING APR09 10:00 RM301,LOB FOR: M&CG
- April 24, 1997: MAJ REPORT OTP/AM FOR APR30 (VOTE 19-0;CC)
- April 24, 1997: PROP COMM AM<1165>; HC53,P1615-1616
- April 30, 1997: PASSED WITH AM; HJ57,P1666-1667 + 1669
- May 20, 1997: SEN CONC WITH HOUSE AM, SEN FRASER MA VV; SJ19,P338
- May 28, 1997: ENROLLED AM<0023>, AM ADOPTED; HJ70,P2042
- May 29, 1997: ENROLLED AM, AM ADOPTED VV; SJ22,P495
- June 10, 1997: ENROLLED; HJ73,P2073
- June 10, 1997: ENROLLED; SJ23(II),P593
- June 17, 1997: SIGNED BY GOVERNOR 06/17/97 EFF: 08/16/97 CHAP.0181