Public Act 59 of 2009

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• Introduced by Rep. Darwin Booher (R) on March 31, 2009, to revise the state banking code to increase from 6 months to 12 months the period between when a bank loan on which interest is past due and unpaid must be written off in the bank’s accounting, with certain exceptions.
  • Referred to the House Banking and Financial Services Committee on March 31, 2009.
  • Reported in the House on April 2, 2009, with the recommendation that the substitute (H-1) be adopted and that the bill then pass.
  • Substitute offered in the House on April 21, 2009, to replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described. The substitute passed by voice vote in the House on April 21, 2009.
• Passed 105 to 2 in the House on April 21, 2009.
  Who Voted "Yes" and Who Voted "No"
• Received in the Senate on April 22, 2009.
  • Referred to the Senate Banking and Financial Institutions Committee on April 22, 2009.
    • Reported in the Senate on June 18, 2009, with the recommendation that the bill pass.
• Passed 36 to 0 in the Senate on June 24, 2009.
  Who Voted "Yes" and Who Voted "No"
• Signed by Gov. Jennifer Granholm on July 1, 2009.