Introduced
by
To eliminate provisions in state law which require credit unions to determine their gross income each month or set aside regular reserves according to a specific schedule. The requirements are now covered by new federal rules and regulations, so the state law is superfluous.
Referred to the Committee on Insurance and Financial Services
Substitute offered
To replace the previous version of the bill with one requiring credit unions to follow the new federal regulations and any additional regulations set by state Office of Financial and Insurance Services.
The substitute passed by voice vote
Passed in the House 102 to 0 (details)
Referred to the Committee on Banking and Financial Institutions
