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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
06/23/2026
06/23/2026
Crossed Over
06/17/2026
06/17/2026
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, when applying to be organized. The bill also makes technical changes, such as replacing the term "commissioner" with "director" and updating language regarding application deadlines and procedures, to reflect these changes and ensure consistency in the law. This update provides credit unions with more options for insurance coverage, potentially streamlining the organization process.
Committee Categories
Budget and Finance, 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
Referred To Committee On Finance, Insurance, And Consumer Protection (on 06/23/2026)
Bill Topics
Banking, Finance, and Domestic Commerce
- ‐ Banking System and Financial Institution Regulation and Reform
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://legislature.mi.gov/Bills/Bill?ObjectName=2026-HB-5779 | 04/14/2026 |
| BillText | https://legislature.mi.gov/documents/2025-2026/billengrossed/House/htm/2026-HEBH-5779.htm | 06/17/2026 |
| Fiscal Note/Analysis - House: Summary as Reported from Committee | https://legislature.mi.gov/documents/2025-2026/billanalysis/House/pdf/2026-HLA-5779-K9LC38YQ.pdf | 06/17/2026 |
| Fiscal Note/Analysis - House: Summary as Introduced | https://legislature.mi.gov/documents/2025-2026/billanalysis/House/pdf/2026-HLA-5779-J52V9MN8.pdf | 06/17/2026 |
| Fiscal Note/Analysis - House: Summary as Introduced | https://legislature.mi.gov/documents/2025-2026/billanalysis/House/pdf/2026-HLA-5779-1MWBT3DH.pdf | 05/13/2026 |
| BillText | https://legislature.mi.gov/documents/2025-2026/billintroduced/House/htm/2026-HIB-5779.htm | 04/14/2026 |
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