- Summary
- Actions
- Committee Votes
- Floor Votes
- Memo
- Text
- LFIN
- Chamber Video/Transcript
A00164 Summary:
| BILL NO | A00164B |
| SAME AS | SAME AS S00297-B |
| SPONSOR | Zebrowski |
| COSPNSR | McDonald, Griffin, Rajkumar |
| MLTSPNSR | |
| Add Art 18-C §§18-400 - 18-403, Gen Ob L | |
| Enacts provisions relating to the discontinuance of LIBOR (the London interbank offered rate); prohibits parties 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; establishes that the replacement is a commercially reasonable substitute for and a commercially substantial equivalent to LIBOR; provides a safe harbor from litigation for the use of the recommended benchmark replacement. | |