Section 30.763

Title IV EXECUTIVE BRANCH

Chapter 30

Effective - 28 Aug 1988   

  30.763.  Linked deposit review committee established — members, appointment, qualifications — meetings, quorum — duties and powers — reports, due when. — 1.  There is hereby established the "Linked Deposits Review Committee".  The committee shall consist of four appointed members and two ex officio members.  The ex officio members shall be the director of the department of economic development and the director of the department of agriculture.  The appointed members shall be one member of the house of representatives appointed by the speaker of the house; one member of the senate appointed by the president pro tem of the senate; and two members appointed by the governor, with the advice and consent of the senate, one of whom shall be a banker and one of whom shall be an active farmer.

  2.  Within thirty days after appointment of the committee the members shall meet and select one of their members as chairman.  The committee shall meet as often as necessary to provide timely and appropriate review of the implementation and operation of the linked deposits program established by sections 30.750 to 30.765. Meetings shall be held on the call of the chairman or upon the request of four members of the committee.  A majority of the committee shall constitute a quorum for the transaction of business.  The committee shall serve in a review and oversight capacity for all matters relating to the linked deposits program established by sections 30.750 to 30.765.  The committee may examine all aspects of the linked deposits program established by sections 30.750 to 30.765, including, but not limited to, the program's administration, operation and effectiveness.  All records of the state treasurer's office related to the linked deposits program shall be made available to the committee.

  3.  The committee shall report its findings to the governor, the speaker of the house of representatives, and the president pro tem of the senate.  The first report of the committee shall be made on or before December 31, 1986, and shall cover the period from February 20, 1986, to September 30, 1986.  A subsequent report for each year shall be made on or before December thirty-first of each year and shall cover the period from October first to September thirtieth of that year.

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(L. 1986 H.B. 1107 § 6, A.L. 1988 H.B. 1260)