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Legislation watch
2011 Senate Bill 604: Require financial institution joint account customer disclosures
Introduced by Sen. Coleman Young, II D-Detroit on September 7, 2011
To require savings banks to disclose to individuals opening a joint account the particular characteristics of these accounts, including what happens when one account owner dies, and the fact that each account owner has the right to remove money from the account. Official Text and Analysis.
Referred to the Senate Banking and Financial Institutions Committee on September 7, 2011
Reported in the Senate on October 11, 2011
With the recommendation that the bill be referred to the Committee on Families, Seniors and Human Services.
Referred to the Senate Families, Seniors & Human Services Committee on October 11, 2011
Reported in the Senate on November 1, 2011
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered in the Senate on November 3, 2011
The substitute passed by voice vote in the Senate on November 3, 2011
Received in the House on November 3, 2011
Referred to the House Banking and Financial Services Committee on November 3, 2011