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Bill > HB5779
MI HB5779
MI HB5779Financial institutions: credit unions; commitment for insurance from a qualified private insurance organization; allow for domestic credit unions in certain filings. Amends sec. 301 of 2003 PA 215 (MCL 490.301). TIE BAR WITH: HB 5780'26, HB 5781'26, HB 5782'26, HB 5783'26
summary
Introduced
04/14/2026
04/14/2026
In Committee
04/14/2026
04/14/2026
Crossed Over
Passed
Dead
Introduced Session
103rd Legislature
Bill Summary
A bill to amend 2003 PA 215, entitled"Credit union act,"by amending section 301 (MCL 490.301), as amended by 2004 PA 471.
AI Summary
This bill amends the Credit Union Act to allow domestic credit unions to obtain insurance for their share and deposit accounts from a qualified private insurance organization, in addition to federal agencies, and clarifies that the "commissioner" responsible for approving credit union organization is now referred to as the "director." The changes also update the language regarding the timing of decisions and appeals, ensuring that the director, rather than the commissioner, handles these processes and that applicants have specific timeframes to request hearings or file appeals.
Committee Categories
Business and Industry
Sponsors (6)
Mike Harris (R)*,
Brian BeGole (R),
Matthew Bierlein (R),
Jay DeBoyer (R),
Mike McFall (D),
Jason Woolford (R),
Last Action
Bill Electronically Reproduced 04/14/2026 (on 04/15/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.mi.gov/Bills/Bill?ObjectName=2026-HB-5779 |
| BillText | https://legislature.mi.gov/documents/2025-2026/billintroduced/House/htm/2026-HIB-5779.htm |
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