Credit Union Board Modernization Act
This bill revises the required frequency of meetings held by a credit union's board of directors. Specifically, new credit unions and credit unions with a low soundness rating must meet monthly. All other credit unions must hold at least six meetings annually, with at least one meeting held during each fiscal quarter. Currently, all credit union boards must meet at least once a month.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Mr. McHenry moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H501-502)
DEBATE - The House proceeded with forty minutes of debate on H.R. 582.
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H501)
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H501)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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