H.R. 1553 · 111th Congress
Mutual Savings Association Preservation Act
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
AckermanSponsorNo cosponsors.
Mutual Savings Association Preservation Act - Amends the Home Owners' Loan Act to: (1) prohibit any company or subsidiary, or any director, officer, employee, or person with voting power or holding proxies representing more than 25% of the voting shares of such company or subsidiary, from holding, soliciting, or exercising any proxies in respect of a mutual…
What it does: CRS summary · Introduced in House · Mar 17, 2009
Mutual Savings Association Preservation Act - Amends the Home Owners' Loan Act to: (1) prohibit any company or subsidiary, or any director, officer, employee, or person with voting power or holding proxies representing more than 25% of the voting shares of such company or subsidiary, from holding, soliciting, or exercising any proxies in respect of a mutual savings association in an attempt to control the association; and (2) allow an aggrieved association to bring a civil action to prevent such takeover attempts.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Mutual Savings Association Preservation Act
Latest action (Apr 27, 2009): Referred to the Subcommittee on Courts and Competition Policy.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Mar 17, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.