Credit Union Board Modernization Act

H.R. 5981 · 116th Congress · Feb 26, 2020 · Lineage

A BILL

To amend the Federal Credit Union Act to modify the frequency of board of directors meetings, and for other purposes.

This Act may be cited as the “Credit Union Board Modernization Act”.

Section 113 of the Federal Credit Union Act (12 U.S.C. 1761b) is amended—

(1)

by striking “at least once a month” and inserting “not less than six times annually, with at least one meeting held during each fiscal quarter,”; and

(2)

by striking “monthly” each place such term appears.