HB 488 was presented to the House Judiciary Non-Civil Reeves Subcommittee by Rep. Martin Momtahan (R), Dallas. This bill relates to selling of store value gift cards. During last session, CBA worked with the author of the bill to address concerns that we had with the bill as drafted. The author of the bill worked during the off-session to come up with language that would be amendable to financial institutions. As presented to the Subcommittee this week, the changes made by the author sufficiently address our concerns. The meeting was a hearing only for the bill and no action was taken.
HB 781 was placed on the House Rules Calendar for Day 13 of the session and should be voted upon by the House. This is the Department of Banking and Finance’s annual housekeeping bill.
HB 865 was introduced in the House by Rep. Mitchell Scoggins (R), Cartersville. While the majority of this bill relates to code revision of the “Revised Probate Code of 1998”, there is a section in the bill that impacts Title 7 as it relates to deposits of deceased intestate depositors As written, CBA has concerns with the bill in that it shifts the responsibility of determining the persons entitled to receive any funds, and the priority with which funds are paid to such persons, to the financial institution. This bill was originally assigned to the Code Revision Committee, but was later withdrawn and reassigned to the House Judiciary Committee.
SB 315 was presented to the Senate Judiciary Committee by Senator Lindsey Tippins (R), Marietta. This bill relates to mechanics and materialmen liens and rights. The bill was passed as drafted and no changes were made by the Committee.
EVP, Chief of Staff, Government & Regulatory Relations