OH HB770

Amends multiple sections of Ohio's credit union law to modernize and revise regulations governing credit union operations, membership, governance, and member protections.

Creates new Section 1733.051 allowing credit union senior management to terminate memberships or services for members who cause losses, commit fraud, engage in abuse, or engage in conduct detrimental to the credit union, with appeal rights to the board within 90 days.

Establishes new Section 1733.152 permitting credit union boards to appoint associate directors in advisory, non-voting capacity who must meet director requirements and sign confidentiality agreements.

Reduces quorum requirement for members' meetings from ten percent to one percent of voting members (or 25 members, whichever is lower) and allows electronic voting methods including electronic ballots and proxies.

Revises compensation provisions to allow credit unions to provide reasonable compensation, minimal gifts, employee-available benefits, and expense reimbursement to directors and supervisory audit committee members; repeals section 1733.26 of the Revised Code.