HB 412 — AN ACT TO AMEND TITLE 5 OF THE DELAWARE CODE RELATING TO LIMITATIONS ON PLEDGING OR HYPOTHECATING ASSETS OF BANKS AND TRUST COMPANIES.
Last action — Signed by Governor
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✓Introduced
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✓In Committee
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✓Passed House
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✓Passed Senate
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced May 08, 2018. Enacted.
Odds of enactment
High chanceBased on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.
Upgrade to see the exact probability and what's driving it.
A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.
Prognosis
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Enacted
Current position in the legislative process.
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2 sponsors
2 primary, 0 co-sponsors signed on.
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Single-party support
Sponsorship is currently within one party (1 R).
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Cleared a recorded vote
Passed 2 recorded votes so far.
Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.
Summary
This Act amends § 918 of Title 5 of the Delaware Code, which sets forth limitations on pledging or hypothecating assets of banks and trust companies, to modernize these limitations to apply to the current practices of banks and trust companies while not affecting the safety and soundness of banks and trust companies. Section 1. This section amends § 918 of the Delaware Code (i) to clarify that the limitations in § 918 apply to pledges and hypothecations to secure guarantees, credit exposures, or other potential liabilities in addition to borrowings; (ii) to exclude from the limitations in § 918 any pledge, hypothecation, repledge, or rehypothecation by a bank or trust company supervised by a federal banking agency if the pledge, hypothecation, repledge, or rehypothecation is permitted under applicable federal law or regulations or orders promulgated thereunder by the federal banking agency; and (iii) to make technical changes to update § 918 to conform to the standards of the Delaware Legislative Manual.
Bill Text
- Bill Text View text Current pdf
Action History
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Signed by Governor
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Passed By Senate. Votes: 20 YES 1 ABSENT
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Reported Out of Committee (Banking, Business & Insurance) in Senate with 3 On Its Merits
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Assigned to Banking, Business & Insurance Committee in Senate
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Passed By House. Votes: 41 YES
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Reported Out of Committee (Economic Development/Banking/Insurance/Commerce) in House with 10 On Its Merits
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Introduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House
Sponsors
- Daniel B. Short · Primary
- Brian J. Bushweller · Primary
Sponsorship breakdown
Export CSV (upgrade) →2 sponsors · 0 co-sponsors · 60 not signed on
Sponsors (2)
- Daniel B. Short Republican
- Brian J. Bushweller
Co-sponsors (0)
None.
Not signed on (60)
60 members have not signed on to this bill.
Show all 60 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 11 | 0 | 0 | 1 |
| Democratic | 5 | 0 | 0 | 0 |
| Republican | 4 | 0 | 0 | 0 |
| Total | 20 | 0 | 0 | 1 |
| % of votes cast | 95% | 0% | 0% | 5% |
How each member voted (21)
| Member | Party | Vote |
|---|---|---|
| Anthony Delcollo | — | Yea |
| Brian J. Bushweller | — | Yea |
| Bruce C. Ennis | — | Yea |
| Catherine Cloutier | — | Not Voting |
| Colin Bonini | — | Yea |
| David B. McBride | — | Yea |
| Ernesto B Lopez | — | Yea |
| F. Gary Simpson | — | Yea |
| Gregory F. Lavelle | — | Yea |
| Harris B. McDowell | — | Yea |
| Margaret Rose Henry | — | Yea |
| Robert Marshall | — | Yea |
| Bryan Townsend | Democratic | Yea |
| David P. Sokola | Democratic | Yea |
| John "Jack" Walsh | Democratic | Yea |
| Nicole Poore | Democratic | Yea |
| Stephanie L. Hansen | Democratic | Yea |
| Brian Pettyjohn | Republican | Yea |
| Bryant L. Richardson | Republican | Yea |
| Dave G. Lawson | Republican | Yea |
| Gerald W. Hocker | Republican | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 25 | 0 | 0 | 0 |
| Democratic | 7 | 0 | 0 | 0 |
| Republican | 9 | 0 | 0 | 0 |
| Total | 41 | 0 | 0 | 0 |
| % of votes cast | 100% | 0% | 0% | 0% |
How each member voted (41)
Subjects
Frequently asked questions
- What does HB 412 do?
- This Act amends § 918 of Title 5 of the Delaware Code, which sets forth limitations on pledging or hypothecating assets of banks and trust companies, to modernize these limitations to apply to the current practices of banks and trust companies while not affecting the safety and soundness of banks and trust companies. Section 1. This section amends § 918 of the Delaware Code (i) to clarify that the limitations in § 918 apply to pledges and hypothecations to secure guarantees, credit exposures, or other potential liabilities in addition to borrowings; (ii) to exclude from the limitations in § 918 any pledge, hypothecation, repledge, or rehypothecation by a bank or trust company supervised by a federal banking agency if the pledge, hypothecation, repledge, or rehypothecation is permitted under applicable federal law or regulations or orders promulgated thereunder by the federal banking agency; and (iii) to make technical changes to update § 918 to conform to the standards of the Delaware Legislative Manual.
- Who sponsors HB 412?
- HB 412 is sponsored by Daniel B. Short (Republican) and Brian J. Bushweller.
- What is the current status of HB 412?
- This bill has been enacted into law. Introduced May 08, 2018. Enacted.
- Where can I track HB 412?
- Track HB 412 free on One Click Politics — get push/email alerts when it moves.
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