-  This bill is not active in this session.
 
     
  •  Summary 
  •  
  •  Actions 
  •  
  •  Committee Votes 
  •  
  •  Floor Votes 
  •  
  •  Memo 
  •  
  •  Text 
  •  
  •  LFIN 
  •  
  •  Chamber Video/Transcript 

S00297 Summary:

BILL NOS00297B
 
SAME ASSAME AS A00164-B
 
SPONSORTHOMAS
 
COSPNSRSANDERS
 
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.
Go to top