Bills › 88th General Assembly
Relating to the subpoena powers of the superintendent of credit unions, and making penalties applicable
Sponsored by the House Commerce Committee
Topics:Business & economy
Where it is now
- Done: IntroducedFebruary 13, 2019
- Skipped: SubcommitteeSkipped
- Done: House committeeApril 4, 2019
- Done: Passes the HouseApril 10, 2019
- Skipped: Senate committeeSkipped
- Done: Passes the SenateApril 8, 201950–0
- Done: To the GovernorApril 22, 2019
- Done: Signed into lawApril 23, 2019
SF 403 became law → The same legislation passed as SF 403, so this version was set aside. Go to SF 403 What’s a funnel?
What’s in it
Current law allows the superintendent of credit unions of the credit union division of the department of commerce to subpoena witnesses and compel the production of any relevant record during the period of an examination of a state credit union by the superintendent. This bill expands the superintendent’s subpoena authority by allowing the superintendent to compel the production of any relevant record related to any period of examination, or related to any report or filing made by or provided to the credit union division.
Read the full explanation
Under current law, whenever a person subpoenaed by the superintendent of credit unions fails to produce a record as required by the terms of the subpoena, the superintendent may apply to the district court of Polk county to issue an order compelling compliance. The refusal of any person to obey such an order issued by the district court without reasonable cause constitutes contempt of court.
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88th General Assembly