---
type: "Bill"
title: "Banks and trust companies authorized investment modification"
description: "Banks and trust companies authorized investment modification"
jurisdiction: "us/states/mn"
legislature: "Minnesota Legislature"
session: "2019-2020"
identifier: "SF 3589"
citation: "Minnesota SF 3589 (2019-2020)"
classification: ["bill"]
subjects: ["Banks and Financial Institutions", "Investments and Securities"]
status: "enacted"
primary_sponsors: ["Draheim"]
version_count: 1
action_count: 22
vote_count: 0
first_action: "2020-02-24"
last_action: "2020-08-01"
source: "openstates"
source_identifier: "ocd-bill/39f9da9c-a173-4f30-bb07-30b29560c3c3"
source_url: "https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF3589&ssn=0&y=2020"
source_hash: "f113e6c49003fbe7691eff671dd0f7e88c39ea2da45d4dc767112a768ad27844"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-mn"]
---

# Minnesota SF 3589 (2019-2020) — Banks and trust companies authorized investment modification

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Introduction** (committee substitute) — [source](https://www.revisor.mn.gov/bills/text.php?number=SF3589&version=0&session=ls91&session_year=2020&session_number=0)

## Sponsors

- Draheim — primary (person)
- Elkins — cosponsor (person)
- Koran — cosponsor (person)
- Lang — cosponsor (person)
- Utke — cosponsor (person)
- Vogel — cosponsor (person)
- Wiklund — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2020-02-24** Introduction and first reading `introduction`
- **2020-02-24** Referred to Commerce and Consumer Protection Finance and Policy `referral-committee`
- **2020-03-02** Author added Wiklund
- **2020-03-12** Comm report: To pass `committee-passage`
- **2020-03-12** Second reading `reading-2`
- **2020-05-11** Special Order
- **2020-05-11** Third reading Passed `passage`
- **2020-05-15** Returned from House
- **2020-05-16** Presentment date 05/16/2020
- **2020-05-18** Governor's action Approval 05/18/2020 `executive-signature`
- **2020-05-18** Secretary of State Chapter 95 05/18/2020
- **2020-08-01** Effective date 08/01/20
- **2020-05-11** Received from Senate `introduction`
- **2020-05-11** Senate file first reading, referred for comparison HF4067
- **2020-05-12** Bills identical, SF substituted on General Register
- **2020-05-12** Second reading `reading-2`
- **2020-05-13** House rule 1.21, placed on Calendar for the Day Friday, May 15, 2020
- **2020-05-15** Third reading `reading-3`
- **2020-05-15** Bill was passed `passage`
- **2020-05-16** Presented to Governor 05/16/2020 `executive-receipt`
- **2020-05-18** Governor approval 05/18/2020 `executive-signature`
- **2020-05-18** Secretary of State, Filed 05/18/2020

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/39f9da9c-a173-4f30-bb07-30b29560c3c3`. Confidence: reported (aggregated from official Minnesota legislature records).