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MN SF2843
Bill
Status
3/1/2018
Primary Sponsor
David Senjem
Click for details
AI Summary
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Amends procedures for proposing and voting on bylaw amendments, requiring that when three percent or more of members propose a resolution, it must be submitted to all members for a vote with at least 30 days' notice if mail or electronic balloting is authorized.
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Requires credit unions to post proposed bylaw amendments in their office for member review 30 days prior to voting and allow members to request written copies of amendments at least 10 days before the vote.
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Amends the definition of "cause" for member expulsion to include loss to the credit union, violations of membership agreements, fraud, attempted fraud, other illegal behavior, or inappropriate behavior such as physical or verbal abuse of members or staff.
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Changes notice requirement for member expulsion and nonparticipation policies from "mailed" to "delivered" and requires new members be notified of these procedures before or upon applying for membership.
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Adds strikethrough text clarifying that the nonparticipation policy basis is limited to failure to maintain shares or pay fees, or causing monetary loss, removing ambiguous language about alternative grounds.
Legislative Description
Credit unions membership, governance, and powers and duties modification
Last Action
Rule 45; subst. General Orders HF3224
4/19/2018