EnactedFiled Jan 27, 2026
Sponsor: Chris Rothfuss (D)
Latest Action
Assigned Chapter Number 74
Mar 7, 2026
Summary
The act creates a formal process for a special purpose depository institution (SPDI) to become a state bank, and for a state bank to become an SPDI. It requires detailed conversion plans, board and banking‑commissioner approvals, fees, capital and insurance standards, and sets strict timelines for review, certification and commencement of business. The law also mandates rulemaking and becomes effective on July 1 2026.
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