An act to amend 2003 PA 215, entitled “An act to provide for the organization, operation, regulation, and supervision of credit unions; to prescribe the powers and duties of credit unions; to prescribe the powers and duties of certain state agencies and officials; to create the credit union regulatory fund; to prescribe penalties, civil sanctions, and remedies; and to repeal acts and parts of acts,” by amending section 355 (MCL 490.355), as amended by 2016 PA 152.
The legislation allows credit union members to designate accounts as inactive, prohibits fees on such accounts, and mandates the transfer of unclaimed funds to the state treasury if the inactive status is not removed within a specified period.
Co-sponsored by Sens.
Referred to the Committee on Veterans and Emergency Services
Reported without amendment
Referred to the Committee of the Whole
Reported without amendment
Passed in the Senate 38 to 0 (details)
Referred to the Committee on Insurance and Financial Services
Reported without amendment
Referred to the Committee on Military, Veterans and Homeland Security
Reported without amendment
Failed in the House 52 to 49 (details)
Motion to reconsider
by
The motion prevailed by voice vote
Passed in the House 105 to 4 (details)
Motion to give immediate effect
by
The motion prevailed by voice vote
Motion to give immediate effect
by
The motion prevailed by voice vote
