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Minutes for SB66 - Committee on Financial Institutions and Insurance

Short Title

Mid-term appointments of state bank board members.

Minutes Content for Wed, Feb 1, 2017

Chairperson Longbine greeted the members and guests and opened the hearing on SB66.  Eileen Ma gave an overview of the bill's provisions and answered a question from Senator Rogers regarding how this bill would affect the actual length of a member's term.  It is possible that an individual could serve almost three full terms, depending on whether he or she replaced a resigning member early in the member's term.  Ms. Ma explained that a member can serve two full three-year terms, plus the remainder of the resigning member's term, which is not construed as a full term. 

Doug Wareham presented testimony in support for the bill.  He remarked that this change will improve the appointment process and be less costly.      (Attachment 1)

There being no questions and no other conferee testimony submitted, Chairperson Longbine closed the hearing on SB66.