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  1. Bama Politics
  2. Alabama
  3. Alabama House & Senate Bills
  4. 2019 Alabama Legislative Regular Session
  5. 2019 Alabama Senate Bills
  6. SB 33
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SB 33

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Signed by Governor
Contents hide
  • 1 Bill Summary
  • 2 Bill Actions
  • 3 Bill Calendar
  • 4 Bill Text
  • 5 Bill Votes
  • 6 Bill Documents

Bill Summary

Sponsors
  • Shay Shelnutt
Session
Regular Session 2019
Title
Credit Unions, federal charter parity provision clarified, Credit Union Administration Board authorize to appoint National Credit Union Admin as conservator of a credit union, membership of supervising committees increased, reimbursement of bd and committee member travel costs, merger meeting notice requirement increased, definition of official revised, Secs. 5-17-4, 5-17-8, 5-17-10, 5-17-11, 5-17-22, 5-17-55 am'd.
Description

Under existing law, state-chartered credit unions are organized and regulated by the Alabama Credit Union Administration

This bill would clarify and codify the federal charter parity provision to mean asset liability management, including regulatory net worth or capital management and composition

This bill would authorize the Alabama Credit Union Administration Board to appoint the National Credit Union Administration as conservator of a state-chartered credit union

This bill would authorize credit union supervisory committees to consist of more than three members

This bill would permit payment or reimbursement of reasonable and proper travel costs of a member of the board or any committee and one guest per member traveling on official business of the state-chartered credit union

This bill would increase the meeting notice period prior to the meeting to vote and approve a merger plan of a merging credit union

This bill would also expand the definition of an official who may serve on the Alabama Credit Union Administration Board to include a president, chief executive officer, or a person elected by the membership to serve as a member of the board, credit committee, or supervisory committee of a state-chartered credit union

To amend Sections 5-17-4, 5-17-8, 5-17-10, 5-17-11, 5-17-22, as amended by Act 2018-470, 2018 Regular Session, and 5-17-55, Code of Alabama 1975, relating to state-chartered credit unions and the Alabama Credit Union Administration; to clarify and codify the federal charter parity provision to mean asset liability management, including regulatory net worth or capital management and composition; to authorize the Alabama Credit Union Administration Board to appoint the National Credit Union Administration as conservator of a state-chartered credit union; to provide that credit union supervisory committees may consist of more than three members; to permit payment or reimbursement of reasonable and proper travel costs of a member of the board or any committee and one guest per member traveling on official business of the state-chartered credit union; to increase the meeting notice period prior to the meeting to vote and approve a merger plan of a merging credit union; and to expand the definition of an official who may serve on the Alabama Credit Union Administration Board to include a president, chief executive officer, or a person elected by the membership to serve as a member of the board, credit committee, or supervisory committee of a state-chartered credit union.

Subjects
Credit Unions

Bill Actions

Action Date Chamber Action
May 2, 2019 S Assigned Act No. 2019-130.
May 2, 2019 S Enrolled
May 2, 2019 H Signature Requested
May 2, 2019 S Passed Second House
May 2, 2019 H Motion to Read a Third Time and Pass adopted Roll Call 467
May 2, 2019 H Third Reading Passed
April 11, 2019 H Read for the second time and placed on the calendar
April 3, 2019 H Read for the first time and referred to the House of Representatives committee on Financial Services
April 3, 2019 S Engrossed
April 2, 2019 S Motion to Read a Third Time and Pass adopted Roll Call 83
April 2, 2019 S Waggoner motion to Adopt adopted Roll Call 82
April 2, 2019 S Banking and Insurance Amendment Offered
April 2, 2019 S Third Reading Passed
March 20, 2019 S Read for the second time and placed on the calendar 1 amendment
March 5, 2019 S Read for the first time and referred to the Senate committee on Banking and Insurance

Bill Calendar

Type Date Location Description
Hearing April 10, 2019 Room 617 at 09:00 House FS Hearing
Hearing March 20, 2019 Room 320 at 13:00 Senate B&I Hearing

Bill Text

Download SB 33 PDF

Bill Votes

Motion to Read a Third Time and Pass
2019-05-02
Chamber: House
Result: Passed
Motion to Read a Third Time and Pass
2019-04-02
Chamber: Senate
Result: Passed
Waggoner motion to Adopt
2019-04-02
Chamber: Senate
Result: Passed

Bill Documents

Type Link
Bill Text SB 33 - Enrolled
Bill Text SB 33 - Engrossed
Bill Text SB 33 - Introduced
Bill Amendments Senate Banking and Insurance first Amendment Offered
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