Financial institutions: credit unions; notices to credit union members of certain mergers; modify requirements for. Amends sec. 371 of 2003 PA 215 (MCL 490.371).

Also relevant to:Union member / worker

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Plain-English Summary

This bill amends the Credit Union Act to update the process for credit union mergers in Michigan. It outlines the steps for two or more credit unions to merge, including board approval, submission of a merger plan to the director, and member approval, which can be waived by the director under certain conditions. The bill also details the effects of a merger, such as the transfer of assets and liabilities to the surviving credit union.

No official summary on file for this bill · generated by Gemini 2.5 Flash from its full text

Votes

Sponsorship · 7 Sponsors

Democrat4Republican3Independent0Other0

R · PrimeMichele Hoitenga
D · CoVeronica Klinefelt
R · CoJoseph Bellino
D · CoPaul Wojno
D · CoMary Cavanagh
D · CoStephanie Chang
R · CoRuth Johnson

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