Bill Text: DE SB151 | 2013-2014 | 147th General Assembly | Engrossed
Bill Title: An Act To Amend Title 29 Of The Delaware Code Relating To The Cash Management Policy Board.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Passed) 2014-02-14 - Signed by Governor [SB151 Detail]
Download: Delaware-2013-SB151-Engrossed.html
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SPONSOR: |
Sen. Blevins & Rep. Schwartzkopf |
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SENATE BILL NO. 151 AS AMENDED BY SENATE AMENDMENT NO. 1 |
Section 1.Amend Title 29, Chapter 27, §2716(a)(2), of the Delaware Code by making insertions as shown by underlining and deletions as shown by strike through as follows:
(2) Require that the
selection of financial institutions to provide banking and investment services
pursuant to this section be conducted on an open and competitive basis as
defined by the Board.; It shall be the responsibility of the
Board to approve the selection of each of the said financial institutions by a
majority vote of the members of the Board.The Board, by a majority vote of its members,shall be responsible for setting the policy
as to the allocation between short and long term investments and the allocation
of funds to the respective financial institutions selected through the open and
competitive process; and
