SF 55: Special purpose depository institution-amendments.
SF 55 status: Enacted — Assigned Chapter Number 75 (updated Mar 8, 2026).
What this bill does
Overall score
Bill summary
OfficialThis act amends the initial capital stock requirements for special purpose depository institutions (SPDIs) by requiring SPDIs to have capital stock and a paid-up surplus fund to commence business rather than to be chartered, changes the amount of estimated operating expenses required for SPDIs to commence business from...
Key analysis
Impact analysis
Environment
Benefits
- No direct environmental benefit identified
Risks
- No direct environmental risk identified
Economy
Benefits
- Lowers barriers to entry for new banking institutions
- Provides clearer pathways for institutional resolution
Risks
- Reduced capitalization requirements may increase insolvency risk
- Removes mandatory contingency account protections
Society
Benefits
- No direct social benefit identified
Risks
- No direct social risk identified
How trustworthy & consequential it is
Source
OpenStates
Confidence
lowlow
Analysis status
OpenStates summary
Lowering initial capitalization and operating expense requirements could elevate systemic risk
Analysis based solely on OpenStates abstract
Where it stands
Introduced
CompleteCommittee
CompleteFloor
CompleteGovernor
CompleteEnacted
CompleteHow it affects your district
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