Text: S05256 Text: S05258 Text: S05200 - S05299 Text: S Index Bills and Amendments: General Index Bill History: General Index
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PAG LIN 1 1 Amend Senate File 376, as passed by the Senate, as 1 2 follows: 1 3 #1. Page 1, by striking lines 7 through 12 and 1 4 inserting the following: "payments on shares or as 1 5 deposits, including the right to conduct Christmas1 6clubs, vacation clubs, and other such thrift1 7organizations within the membership. Rules adopted 1 8 allowing nonmember deposits in credit unions serving 1 9 predominantly low-income members shall be designed 1 10 solely to meet the needs of the low-income members." 1 11 #2. Page 3, by inserting after line 18 the 1 12 following: 1 13 "Sec. . Section 533.6, subsection 2, Code 1995, 1 14 is amended to read as follows: 1 15 2. The superintendent may make or cause to be made 1 16 an examination of each credit union whenever the 1 17 superintendent believes such examination is necessary 1 18 or advisable, but in no event less frequently than 1 19 once during each eighteen-month period. A credit 1 20 union designated as serving predominantly low-income 1 21 members shall be reviewed during each examination to 1 22 ensure that such credit union is continuing to meet 1 23 the standards established by rule of the 1 24 superintendent. Each credit union and all of its 1 25 officers and agents shall give to the representatives 1 26 of the superintendent free access to all books, 1 27 papers, securities, records, and other sources of 1 28 information under their control. A report of such 1 29 examination shall be forwarded to the chairperson of 1 30 each credit union within thirty days after the 1 31 completion of the examination. Within thirty days of 1 32 the receipt of this report, a meeting of the directors 1 33 shall be called to consider matters contained in the 1 34 report and the action taken shall be set forth in the 1 35 minutes of the board. The superintendent may accept, 1 36 in lieu of the examination of a credit union, an audit 1 37 report conducted by a certified public accounting firm 1 38 selected from a list of firms previously approved by 1 39 the superintendent. The cost of the audit shall be 1 40 paid by the credit union." 1 41 #3. Page 12, by inserting after line 13 the 1 42 following: 1 43 "Sec. . Section 533.61, subsection 2, Code 1 44 1995, is amended by adding the following new 1 45 paragraph: 1 46 NEW PARAGRAPH. f. A list of credit unions which 1 47 have been designated as serving predominantly low- 1 48 income members pursuant to section 533.4, subsection 1 49 1." 1 50 #4. By renumbering as necessary. 2 1 SF 376H 2 2 mj/pk/25
Text: S05256 Text: S05258 Text: S05200 - S05299 Text: S Index Bills and Amendments: General Index Bill History: General Index
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