OH HB652

Changes the license renewal date for credit union share guaranty corporations from the anniversary date of original issuance to on or before June 30th annually.

Increases the maximum primary guaranteed amount for credit union share accounts to match the amount insured by the national credit union administration if that amount exceeds $250,000.

Authorizes credit union share guaranty corporations to enter into written corrective action agreements with participating credit unions and allows supervisory authorities to be included in such agreements.

Establishes a new mechanism for special premium assessments on participating credit unions when the guarantee fund experiences or expects a net loss, with provisions for paying cash dividends to credit unions that paid such assessments.

Permits credit union share guaranty corporations to invest in federal home loan bank common stock and, with board and superintendent approval, in publicly traded preferred and common stocks up to the corporation's statutory unassigned surplus reduced by authorized control level risk-based capital.