SB 377 (1998): authorizing the organization of merchant banks to provide equity financing and related services to small businesses.

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@misc{bill-1998-sb377, title = {SB 377 (1998): authorizing the organization of merchant banks to provide equity financing and related services to small businesses.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/1998/sb377}, note = {Accessed 24 Oct. 2026} }

SB 377 (1998)

authorizing the organization of merchant banks to provide equity financing and related services to small businesses.

  • Status: Signed into law
  • Term: 1997-1998
  • House committee: Commerce
  • Senate committee: Banks
  • Subject: Miscellaneous
  • Chapter law: 284

The Story

It was introduced on January 7, 1998 and referred to the Senate Banks committee. The committee held a public hearing on January 27, 1998. The committee voted unanimously, 7–0, to recommend that the Senate pass it with changes. On February 12, 1998 the Senate voted to pass it with changes on a voice vote. It crossed to the House on February 18, 1998 and was referred to the House Commerce committee. The committee held a public hearing on March 17, 1998. The committee held a work session on March 31, 1998. On April 9, 1998 the House adopted “Suspend Rules change rept date to 05/14/1998”, on a motion by Rep. Wheeler & Burling. The committee held work sessions on May 6, 1998 and May 12, 1998. The majority recommended that the House pass it with changes, and the minority recommended that the House study it after the session ends, by a vote of 6–5. On May 20, 1998 the House voted to pass it with changes on a voice vote. On May 28, 1998 the Senate voted to agree to the other chamber's changes on a voice vote. An enrolled bill amendment (2044) was adopted on June 4, 1998. These correct technical errors found after passage. The bill was enrolled on June 18, 1998 — the final check of the text before it goes to the governor — and an enrolled bill amendment (2044) was adopted on a voice vote to correct technical errors found after passage. The governor signed it on June 26, 1998, making it Chapter 284 of the session laws. It took effect on August 25, 1998.

Sponsors

  • Sen. Fraser (SD4) (prime sponsor)

Hearings and Sessions

  • January 27, 1998, 1:00 PM: hearing, Senate Banks, RM102,LOB
  • March 17, 1998, 10:00 AM: hearing, House Commerce, RM302,LOB
  • March 31, 1998, 10:30 AM: subcommittee work session, House Commerce, RM302,LOB
  • May 6, 1998, 10:00 AM: subcommittee work session, House Commerce, RM302,LOB
  • May 12, 1998, 11:45 AM: subcommittee work session, House Commerce, RM302,LOB

Votes

  • February 12, 1998, Senate: Ought to Pass with Amendment — voice vote, passed
  • May 20, 1998, House: Ought to Pass with Amendment — voice vote, passed
  • May 28, 1998, Senate: Concur — voice vote, passed

The Docket

  • January 7, 1998: INTRODUCED AND REF TO BANKS; SJ1,P7
  • January 27, 1998: HEARING JAN27 1:00 RM102,LOB FOR: BANKS
  • February 10, 1998: COMM REPORT OTP/AM FEB12 (VOTE 7-0)
  • February 10, 1998: PROP COMM AM<0710>(NEW TITLE); SC9,P33-36
  • February 12, 1998: COMM AM, AA VV; PASSED WITH AM VV; SJ3,P47-50 + 87
  • February 18, 1998: INTRODUCED AND REF TO COMMERCE; HJ21,P1078
  • February 24, 1998: COPY TO CHAIRMAN ON 03/03/98 DUE ON 04/15/98
  • February 25, 1998: //CANCELLED//HEARING MAR10 10:00 RM302,LOB FOR: COMMERCE
  • March 17, 1998: RESCHEDULED HEARING MAR17 10:00 RM302,LOB FOR: COMMERCE
  • March 31, 1998: SUBCOM WORK SESSION MAR31 10:30 RM302,LOB FOR: COMMERCE
  • April 9, 1998: REPS WHEELER & BURLING SUSP RULES, CHANGE REPT DATE TO MAY14, MA 2/3VV; HJ34,P1464
  • May 6, 1998: SUBCOM WORK SESSION MAY06 10:00 RM302,LOB FOR: COMMERCE
  • May 12, 1998: SUBCOMMITTEE WORK SESS MAY12 11:45 RM302,LOB FOR: COMMERCE
  • May 12, 1998: MAJ REPORT OTP/AM FOR MAY20 (VOTE 6-5)
  • May 12, 1998: PROP COMM AM<1724>(NEW TITLE); HC44,P1798-1799
  • May 14, 1998: MIN REPORT REF FOR STUDY
  • May 20, 1998: REPS HUNT & MITTELMAN PROP FL AM<1817>; HC46,P1901
  • May 20, 1998: COMM AM<1724>, AA VV; REPS HUNT & MITTELMAN FL AM<1817>, AA VV; PASSED WITH AM VV; HJ48,P1953-1953 + 2000
  • May 28, 1998: SEN CONC WITH HOUSE AM, SEN FRASER MA VV; SJ17,P462
  • June 4, 1998: ENROLLED AM<2044>, AM ADOPTED; HJ57,P2135
  • June 10, 1998: ENROLLED AM<2044>, AA VV; SJ19,P546
  • June 18, 1998: ENROLLED; HJ60,P2230
  • June 18, 1998: ENROLLED; SJ20,P633
  • June 26, 1998: SIGNED BY GOVERNOR 06/26/98 EFF: 08/25/98 CHAP.0284

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