Comments Due to NAFCU: NCUA - Federal Credit Union Bylaws
NAFCU would like to highlight the following:
- On November 13, 2018, the National Credit Union Administration (NCUA) published a notice of proposed rulemaking regarding the federal credit union bylaws (FCU Bylaws). In addition to substantive changes, the proposed rule adds staff commentary to clarify provisions, updates provisions to conform to legal opinions issued, and provides stylistic and grammatical changes throughout.
- The proposed rule adds a new section to Article II describing the concept of a “member in good standing” to facilitate implementation of a limitation of services policy. An added section to Article VI creates the position of Director Emeritus, and amends the timeframe for removal of a director for not attending regular meetings.
Comments due to NAFCU: December 28, 2018
NAFCU will send comments on behalf of its members to the NCUA by their deadline (January 14, 2019).