HB179 Summary

• Amends Section 5-17-55 of the Alabama Code to change the entity that nominates Credit Union Board members from the "Alabama State Credit Union Legislative Forum" to the "League of Southeastern Credit Unions and Affiliates."

• Requires the League of Southeastern Credit Unions and Affiliates to submit at least three nominees for any vacancy in the four Governor-appointed board positions that come from this entity's list.

• Allows the Governor to reject the first set of three nominees and request an alternative list of three nominees if none of the initial candidates are acceptable.

• The remaining three of the seven appointed board positions continue to be filled by the Governor from nominees submitted by credit unions at large.

• Act became effective immediately upon passage and approval by the Governor on May 5, 2015.