- Summary
- Actions
- Committee Votes
- Floor Votes
- Memo
- Text
- LFIN
- Chamber Video/Transcript
S00297 Summary:
BILL NO | S00297B |
  | |
SAME AS | SAME AS A00164-B |
  | |
SPONSOR | THOMAS |
  | |
COSPNSR | SANDERS |
  | |
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. |