H0473 Summary: Idaho Credit Union Act Amendments

• Removes mandatory examination language from Section 26-2136 and creates new Section 26-2136A authorizing the director to conduct examinations at least every 18 months unless a less frequent schedule is determined appropriate.

• Establishes confidentiality protections for examination reports and related information obtained by the Department of Finance under Section 26-2136B, with specified exceptions for federal agencies, criminal investigations, and civil actions subject to in-camera review.

• Creates new enforcement authority under Section 26-2140B allowing the director to suspend or remove credit union directors, supervisory committee members, officers, or employees for dishonesty, breach of fiduciary duties, violations, or unsafe practices.

• Replaces suspension procedures with receivership authority under Section 26-2141, allowing the director to apply to district court for appointment of a receiver when a credit union refuses to pay obligations, becomes insolvent, or is in unsafe condition.

• Adds Section 26-2157 authorizing the director to require and attend special board meetings when an examination results in a CAMELS rating of "3," "4," or "5."