HB165 - Credit Union Administration and Regulation

• Amends Alabama credit union laws to regulate use of "credit union" name, restrict usage to authorized entities, with penalties up to $500/day (maximum $50,000) for violations.

• Revises member expulsion procedures, allowing board expulsion for cause with written notice and appeal rights; establishes membership termination when shares fall below one par share.

• Modifies annual operating fees for state-chartered credit unions based on asset tiers, ranging from $200 minimum for small unions to variable rates for larger institutions; increases initial organization application fee from $100 to $1,000.

• Expands administrator powers to suspend operations, issue cease-and-desist orders, appoint conservators, and terminate or adopt contracts for troubled credit unions; establishes appeal procedures and semi-annual reporting requirements.

• Repeals obsolete statutory sections (5-17-25 to 5-17-28, 5-17-49, 5-17-53, 5-2A-100 to 5-2A-103); updates deposit limits for small estates from $5,000 to $10,000 and requires compliance with Alabama Open Meetings Law.