Bill > HB2586

This bill revises several provisions of Missouri credit union law, focusing on membership shares and board meeting participation. The legislation reduces the minimum par value of membership shares from twenty-five dollars to one dollar, while maintaining a maximum par value of one hundred dollars. The bill also expands the flexibility for board directors to participate in meetings, allowing them to join via telephone or electronic means, with the provision that all participating directors can communicate simultaneously. The new provisions ensure that such electronic participation is considered equivalent to in-person attendance and that votes and actions taken during these meetings have the same legal standing as traditional in-person meetings. Additionally, the bill requires that electronic voting procedures include methods to verify director identities and maintain process integrity. The changes aim to modernize credit union governance by providing more flexible membership share options and accommodating contemporary communication technologies for board meetings.

Business and Industry, Government Affairs

https://house.mo.gov/Bill.aspx?bill=HB2586&year=2026&code=R