HB335 Alabama 2014 Session

Updated Feb 26, 2026

Low Interest

Summary

Primary Sponsor: Jack Williams
Republican
Session: Regular Session 2014
Title: Credit Union Board, membership, providing that the League of Southeastern Credit Union and Affiliates provide a list of nominees for certain membership positions on the board, Sec. 5-17-55 am'd.
Summary: HB335 changes how Alabama Credit Union Board seats are filled by requiring nomination lists from a regional credit union league and setting eligibility, terms, and vacancy rules.
What This Bill Does
If passed, four of the seven governor-appointed board seats would be filled from nominees submitted by the League of Southeastern Credit Unions and Affiliates (which must provide at least three nominees per vacancy). If the governor finds the first three unacceptable, the league must submit a new list of three nominees for the governor to choose from; the remaining three seats would be filled by the governor from nominees submitted by credit unions at large. The bill also sets eligibility requirements for nominees (officer, director, or manager of a state-chartered credit union with at least five years of experience in the past ten years), creates staggered three-year terms, and establishes vacancy, removal, and appeal procedures for board members.

Who It Affects
The Alabama Credit Union Board and the Governor/Senate who appoint and confirm board members, including how vacancies are filled and how terms are structured.
Officers, directors, or managers of state-chartered credit unions (and the League of Southeastern Credit Unions and Affiliates) who may be nominated and appointed to the board, and the broader Alabama credit union community affected by the new nomination and appointment process.

Key Provisions
Four of the seven governor-appointed board seats must be filled from nominees submitted by the League of Southeastern Credit Unions and Affiliates, which must submit at least three nominees for each vacancy.
If the governor deems the first three nominees unacceptable, the league must provide an alternative list of three nominees for the governor to select from; the remaining three seats are filled from nominees submitted by credit unions at large.
Nominees must be officers, directors, or managers of state-chartered credit unions with at least five years of experience in the ten years before appointment.
Appointments are for three-year terms with staggered expiration dates, and successors are appointed so some terms expire each year; vacancies are filled by the governor subject to Senate confirmation and serve the balance of the unexpired term.
Vacancy and removal rules allow the administrator to declare a seat vacant for certain reasons (e.g., ceasing to be an officer/director/manager, felony or moral turpitude conviction), with a defined process for reinstatement and appeals.
Seven appointed board members must be of good character; five of seven must have at least five years of qualifying experience in the prior ten years.
An appeal process exists for findings or actions of the administrator, including timelines for notices, hearings, and advisory nature of the Credit Union Board's findings.

AI-generated summary using openai/gpt-5-nano on Feb 24, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Credit Unions