Updating provisions of the technology-enabled fiduciary financial institutions (TEFFI) act by making the act part of the state banking code, adjusting and providing certain definitions, reducing the TEFFI charter application fee, authorizing the issuance of certificates and trust certificates, providing for the supervision of TEFFIs by the state bank commissioner and including Kansas nonprofit corporations as qualified charities for the TEFFI income tax credit.
Reorganizing the Board of Banking and Financial Institutions, the Division of Financial Institutions, and the Lending and Credit Rate Board
Establishing branch banks and Federal Deposit Insurance Corporation requirements
Establishes an economic growth blockchain, regulates virtual and digital assets, and establishes depository banks for these purposes.
Provides for the licensure and regulation of merchant acquirer limited purpose banks. (BDR 55-974)
Generally revise laws regarding the banking commission and the state auditor
Alabama Local Government Training Institutue, renamed Buddy Sharpless Education Institute