As is not uncommon, most of the legislation that passed during the Missouri 2012 session was passed in the last few days of session which ended, by statute, on May 18. Many bills that didn’t make it out of committee, and some which were not even heard in committee, were added as amendments to bills moving through the process. MCUA has been following bills that were amended with the salvage company language regarding how inoperable vehicles can be scrapped. Two bills passed that carried the language, so we expect the provisions of that bill will go into effect. In addition, an error in statute that would have required credit unions to file with the real estate appraisers commission has been corrected. We expect that to go into effect as well.
During the next couple weeks, the revisor of statutes will determine which versions of language will be considered passed. For example, if there is a wording difference between two pieces of language on the same subject that passed on different bills, the version which passes last is generally considered the final language. As those bills are finalized, we will be creating an overview of legislation affecting credit unions and major issues addressed during the session. Official versions will be released shortly, and those bill will be sent to the governor’s desk for his signature. The governor has 45 days following the session to sign or veto bills. If he does neither, bills automatically go into effect on August, 28, 2012.