H.F. 358 Section 1. NEW SECTION . 533.510 Submissions to credit union 1 division —— good faith requirement. 2 Any information, record, application, or document provided 3 to the credit union division pursuant to this chapter shall 4 be provided in good faith. A director, officer, agent, or 5 employee of a state credit union, a credit union service 6 organization, or any other person shall not intentionally 7 publish, report, submit, file, or cause to be filed with the 8 division any information, record, application, or document 9 that is false or misleading by statement or omission. Any 10 information, record, application, or document provided to the 11 division in the absence of good faith or in violation of this 12 section is subject to revocation of prior approval or denial, 13 if applicable. 14 EXPLANATION 15 The inclusion of this explanation does not constitute agreement with 16 the explanation’s substance by the members of the general assembly. 17 This bill provides that any information, record, 18 application, or document provided to the credit union division 19 pursuant to Code chapter 533 shall be provided in good faith. 20 A director, officer, agent, or employee of a state credit 21 union, a credit union service organization, or any other person 22 shall not intentionally publish, report, submit, file, or 23 cause to be filed with the division any information, record, 24 application, or document that is false or misleading by 25 statement or omission. The bill provides that any information, 26 record, application, or document provided to the division 27 in the absence of good faith or in violation of the bill 28 is subject to revocation of prior approval or denial, if 29 applicable. 30 -1- LSB 1208HV (1) 88 gh/rn 1/ 1