HB249 Alabama 2022 Session

Updated Feb 22, 2026

Summary

Primary Sponsor: Craig LipscombRepresentative
Republican
Session: Regular Session 2022
Title: Credit union administration, examiners, travel expenses to be set by the adminstrator, Sec. 5-17-7 am'd.
Summary: The bill shifts examiner travel expenses to be paid by the Alabama Credit Union Administration and transfers supervisory authority and assets from the Bureau of Credit Unions to the ACUA.
What This Bill Does
It authorizes that travel expenses for examiners traveling for official duties will be set and paid by the Alabama Credit Union Administration according to its internal policies, and exempts these examiners and the ACUA from certain existing travel provisions. It also moves the jurisdiction, duties, and most assets from the Superintendent of Banks and the Bureau of Credit Unions to the ACUA, with staff involved with the Bureau becoming ACUA employees. Fees collected to fund ACUA operations go into a special fund used for salaries, equipment, and supervision costs, and the act becomes effective after a defined delay.

Who It Affects
Examiners employed by the Alabama Credit Union Administration – their travel expenses would be determined and paid according to ACUA's internal policies, and they would be exempt from the specified travel provisions of existing law.
State-chartered credit unions and the Alabama Credit Union Administration (including staff from the Bureau of Credit Unions) – oversight authority and duties shift to ACUA, assets and funds are transferred, and ACUA's operations are funded through a dedicated special fund and ongoing fees.

Key Provisions
Travel expenses for ACUA examiners traveling for official duties shall be set and paid in accordance with internal ACUA policies and shall be exempt from Sections 36-7-20 and 36-7-22.
ACUA gains the jurisdiction, authority, powers, and duties related to credit union management and supervision that were previously held by the Superintendent of Banks and the Bureau of Credit Unions.
All assets, funds, and most resources of the Bureau of Credit Unions are transferred to the ACUA, and employees involved with the Bureau are transferred to ACUA.
Fees collected under Section 5-17-7 are paid into a special fund used to pay ACUA salaries, equipment, vehicles, and other expenses related to examination and supervision; revenues are restricted to ACUA purposes.
The existing annual operating fee and assessment framework for state-chartered credit unions remains, with the Administrator setting the amounts based on asset size; a possible annual operating assessment may be levied to avoid deficits.
The act becomes effective on the first day of the third month after passage and Governor approval (or otherwise as provided by law).

AI-generated summary using openai/gpt-5-nano on Feb 22, 2026. May contain errors — refer to the official bill text for accuracy.
Subjects: Credit Union Administration