SBIR: Roberts motion to Adopt Roll Call 509
Yes
28
Absent
6
SB279 Alabama 2021 Session
Updated Apr 30, 2021
SB279 Alabama 2021 Session
Senate Bill
Enacted
Current Status
Regular Session 2021
Session
7
Sponsors
Summary
- Primary Sponsor
-
Dan Roberts SenatorRepublican - Session
- Regular Session 2021
- Title
- Financial transactions, contingencies provided if the London Interbank Offered Rate is discontinued, Secs. 5-28-1 to 5-28-5, inclusive, added
- Description
This bill would enact provisions relating to the discontinuance of LIBOR, the London Interbank Offered Rate, a benchmark for short-term interest rates, discount rates, or dividend rates used in certain financial contracts.
This bill would prohibit parties to a contract, security, or instrument from refusing to perform contractual obligations or declaring a breach of contract as a result of the discontinuance of LIBOR or the use of a replacement interest rate index for LIBOR.
This bill would also provide a safe harbor from litigation for the use of a recommended benchmark replacement.
- Subjects
- Financial Institutions
Bill Text
Votes
Roberts motion to Adopt Roll Call 511
Yes
28
Absent
6
Roberts motion to Adopt Roll Call 510
Yes
28
Absent
6
Motion to Read a Third Time and Pass Roll Call 512
Yes
28
Absent
6
HBIR: Garrett motion to Adopt Roll Call 927
Yes
97
Absent
6
Motion to Adopt Roll Call 928
Yes
98
Absent
5
Motion to Read a Third Time and Pass Roll Call 929
Yes
96
Absent
7
Reed motion to Concur In and Adopt Roll Call 1149
Yes
28
Absent
6
Documents
Bill Text (Enrolled)
SB279 Alabama 2021 Session - Enrolled
Bill Text (Engrossed)
SB279 Alabama 2021 Session - Engrossed
Bill Text (Introduced)
SB279 Alabama 2021 Session - Introduced
Source: Alabama Legislature