Reverse Repurchase Agreements Sample Contracts
Subject: SB 68 - Reverse Repurchase Agreements Date: Sunday, March 21, 2021 7:07:08 PMReverse Repurchase Agreements • March 21st, 2021
Please see our suggested language below (striking 4 below is in current bill). I’m happy to work with legal on the amendment and also noticed statute is inconsistent in its definition of a repurchase agreement. Section 2 notes a repurchase agreement is both the purchase of or sale of securities; however, 3(b) defines it solely as the ‘purchase’ of securities. A reverse repurchase is the sale of securities, so I’m not sure how legal wants to handle 3(b). Thank so much!