summary
Introduced
04/15/2015
04/15/2015
In Committee
04/15/2015
04/15/2015
Crossed Over
Passed
Dead
07/31/2016
07/31/2016
Introduced Session
189th General Court
Bill Summary
For legislation to modernize the credit union laws. Financial Services.
AI Summary
This bill modernizes credit union laws by allowing credit unions to accept public funds up to 25% of their assets, enabling savings banks and cooperative banks to convert into credit unions, and permitting credit unions to engage in a broader range of financial activities, including certain investments and partnerships, while also updating regulations regarding voting, director responsibilities, loan applications, reporting requirements, and the establishment of a Credit Union Employees Retirement Association.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Accompanied a study order, see S2318 (on 06/06/2016)
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://malegislature.gov/Bills/189/Senate/S552 |
| State Bill Page | https://malegislature.gov/Bills/189/S552 |
| Bill | https://malegislature.gov/Bills/189/S552.pdf |
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