Bank Investment in Subsurface Rights Act
Latest action (29 Jul 1998): Introduced
What this bill does
Generate a neutral, plain-English explanation of what this bill does, who it affects and what happens next — grounded in the official text.
Official summary
Bank Investment in Subsurface Rights Act - Amends the Revised Statutes of the United States governing the national banks to cite circumstances under which a national bank may hold, passively, subsurface real estate rights. Authorizes the Comptroller of the Currency to order a national bank to divest itself of such rights if the Comptroller determines that continued ownership is detrimental to its interests.
Common questions
- What does H.R. 4348 do?
- Bank Investment in Subsurface Rights Act - Amends the Revised Statutes of the United States governing the national banks to cite circumstances under which a national bank may hold, passively, subsurface real estate rights. Authorizes the Comptroller of the Currency to order a national bank to divest itself of such rights if the Comptroller determines that continued ownership is detrimental to its interests.
- Has H.R. 4348 become law?
- Not yet. As of 29 Jul 1998, H.R. 4348 is introduced.
- Who sponsored H.R. 4348?
- H.R. 4348 was sponsored by Rep. Pete Sessions [R-TX17] (Republican-TX), with 0 cosponsors.
- What's the latest action on H.R. 4348?
- Introduced (29 Jul 1998).
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