A bill to amend the Investment Company Act of 1940.

Summary

Amends the Investment Company Act of 1940 to permit a bank, a bank holding company or a subsidiary thereof, a savings and loan association, a savings bank, or a credit union to: (1) organize, sponsor, operate, control, or render investment advice to an investment company; or (2) underwrite, distribute, sell, or issue securities of any investment company if certain standards are met. Sets forth procedures to ensure compliance with such standards.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 24 June 1981

   Introduced

   Read second time and referred to Senate Committee on Banking.

   Source: IntroReferral

2. 24 June 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 6 July 1981

   Committee

   Committee on Banking requested executive comment from Federal Reserve System; Federal Deposit Insurance Corporation; Federal Home Loan Bank Board; Comptroller of the Currency.

   Source: Committee

4. 3 August 1981

   Committee

   Committee on Banking received executive comment from National Credit Union Administration. Unfavorable.

   Source: Committee

5. 18 August 1981

   Committee

   Committee on Banking received executive comment from Federal Home Loan Bank Board. Unfavorable.

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 24 June 1981

  Open at official source

Sponsors

• Sen. Chafee, John H. [R-RI] · R · Sponsor
• Sen. Garn, E. J. (Jake) [R-UT] · R · Sponsor
• Sen. Proxmire, William [D-WI] · D · Sponsor
• Sen. Hayakawa, Samuel Ichiye [R-CA] · R · Sponsor
• · ssbk00 · Standing

Related records

No cross-record relationships stored yet.