SB300 Alabama 2018 Session

Existing law provides for the regulation of credit unions

This bill would further provide voting and notice requirements for board meetings of credit unions

This bill would also provide for conversion of credit unions chartered under the laws of other states to Alabama state chartered credit unions

This bill would provide state chartered credit unions access to certain examination reports, audit reports, and other third-party reports under certain conditions

This bill would provide for the circumstances when the Credit Union Board could enter into executive session and would clarify the authority to disclose certain information to the extent necessary to exercise enforcement authority under certain conditions

To amend Sections 5-17-22, 5-17-40, 5-17-45, 5-17-56, and 5-17-60, Code of Alabama 1975, relating to regulation of credit unions; to provide voting and notice requirements for board meetings; to provide for the conversion of credit unions chartered in other states to Alabama state chartered credit unions; to provide state chartered credit unions access to certain reports under certain conditions; to provide circumstances for the Credit Union Board to enter into executive session; and to provide for certain public disclosures.