AB715: Authorized activities and operations of credit unions; the lending area of savings and loan associations; automated teller machines; residential mortgage loans and variable rate loans; payments for public deposit losses in failed financial institutions; promissory notes of certain public bodies; repealing rules promulgated by the Department of Financial Institutions; providing an exemption from rule-making procedures; and providing a penalty. (FE)

Legislative Summary

An Act to repeal 138.052 (7e) and (7m), 138.056 (6) and 215.21 (2); to renumber and amend 186.11 (2); to amend 34.08 (2), 38.20 (2) (e), 67.12 (12) (a), 138.052 (12) (a), 186.07 (7), 186.113 (15) (a), 186.118 (3) (a) (intro.), 186.235 (14) (c), 214.04 (21) (b), 215.13 (39), 215.13 (46) (a) 1., 215.21 (15), 221.0303 (2), 941.38 (1) (b) 21., 946.82 (4) and 969.08 (10) (b); and to create 186.11 (2) (b) and (c), 186.113 (26), 227.01 (13) (yu) and 943.825 of the statutes; Relating to: authorized activities and operations of credit unions; the lending area of savings and loan associations; automated teller machines; residential mortgage loans and variable rate loans; payments for public deposit losses in failed financial institutions; promissory notes of certain public bodies; repealing rules promulgated by the Department of Financial Institutions; providing an exemption from rule-making procedures; and providing a penalty. (FE)