Governor Jay Nixon (D) vetoed a total of 29 bills from the 2013 Missouri legislative session, the most in a single year since he took office in 2009. This represents approximately 20 percent of the 145 non-budgetary bills that made it to the Governor’s desk. Nixon had 45 days to sign or veto bills, concluding July 14, 2013.
Among the 112 bills signed into law by the Governor was the Credit Union Account Ownership Bill, or HB 478. The bill modernizes the Missouri Credit Union Statute dealing with joint accounts, which had not been updated since 1954. Rep. Paul Wieland (R-District 112) was the sponsor of HB 478 and Senator Gary Romine (R-District 3) carried the bill in the Senate.
"In light of the large number of bills that were vetoed by the governor and the small number of bills that passed the General Assembly, credit unions in Missouri should celebrate not only the signing of HB 478, but also the bipartisan support behind it,” says David Kent, Missouri Credit Union Association (MCUA) political specialist.
HB 478 passed by a vote of 153-1 in the Missouri House and unanimously in the Missouri Senate (33-0).
MCUA is scheduling meetings across the state to explain the impact of HB 478 to credit unions in Missouri. More information is coming soon.
Please see below for a list of bills signed or vetoed by the Governor affecting credit unions.
House Bill 478 — Revises statutory language related to credit union to more closely follow similar statutory language related to banks.
House Bill 428 — Modifies the procedure insurers must undertake to purchase a vehicle through the claims process when they are unable to obtain negotiable title, among other provisions. House Bill 428 also authorizes motor vehicle dealers to provide a public school or college with a new or used vehicle as a courtesy or driver training vehicle.
Senate Bill 148 — Deals with salvage titling. The bill authorizes an applicant to obtain a temporary salvage permit for purposes of transporting a salvage vehicle to a Missouri State Highway Patrol (MSHP) inspection station.
Senate Bill 157 — Strengthens the regulation of scrap metal purchases to prevent and combat the criminal trade in scrap metal. The bill also adds catalytic converters to the types of scrap metal items requiring documentation.
Senate Bill 254 — Currently, for an open-end credit contract that provides for open-end credit loans of 31 days or longer, the lender may charge a credit advance fee of the lesser of $25 or 5% of the credit advanced from the line of credit. This act raises the fee to $75 and 10% respectively.
Senate Bill 235 — Modifies the law relating to residential real estate loan reporting.
House Bill 446 — Prohibits any local law or ordinance regulating the enforcement and servicing of real estate loans.
For a full list of all legislation passed in 2013, please visit Governor Nixon’s web site by clicking here.