Loading chat...
AL SB308
Bill
Status
3/31/2015
Primary Sponsor
Gerald Allen
Click for details
AI Summary
-
Amends Section 5-17-55 of the Code of Alabama 1975 regarding the Credit Union Board of the Alabama Credit Union Administration membership.
-
Requires the Credit Union Board, in consultation with the League of Southeastern Credit Unions or its successor organization, to submit a list of nominees for four of the seven governor-appointed member positions instead of the Alabama State Credit Union Legislative Forum submitting nominees.
-
Maintains the requirement that nominees must be officers, directors, or managers of a state-chartered credit union with at least five years' experience in the preceding 10 years.
-
Preserves the Governor's authority to reject the initial three nominees and request an alternative list of three nominees if none are acceptable.
-
Takes effect immediately upon passage and approval by the Governor or upon otherwise becoming law.
Legislative Description
Credit Union Board, membership, providing that the League of Southeastern Credit Union and Affiliates provide a list of nominees for certain membership positions on the board, Sec. 5-17-55 am'd.
Credit Unions
Last Action
Read for the first time and referred to the Senate committee on Banking and Insurance
3/31/2015