[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[S. 711 Introduced in Senate (IS)]







104th CONGRESS
  1st Session
                                 S. 711

To provide for State credit union representation on the National Credit 
          Union Administration Board, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                April 7 (legislative day, April 5), 1995

   Mr. Gramm introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To provide for State credit union representation on the National Credit 
          Union Administration Board, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``State Credit Union Representation 
Act''.

SEC. 2. STATE CREDIT UNION REPRESENTATION ON NCUA BOARD.

    (a) In General.--Section 102(b) of the Federal Credit Union Act (12 
U.S.C. 1752a(b)) is amended to read as follows--
    ``(b)(1) The Board shall consist of five members who are broadly 
representative of the public interest and one of whom is a State credit 
union supervisor (or the functional equivalent thereof), appointed by 
the President, by and with the advice and consent of the Senate. In 
appointing members of the Board, the President shall designate one of 
the members of the Board, other than the member who is a State credit 
union supervisor (or the functional equivalent thereof), as Chairman. 
Not more than three of the members shall be members of the same 
political party.
    ``(2)(A) State credit union representatives.--
            ``(i) In general.--Except as provided in clause (ii), each 
        member who is a State credit union supervisor (or the 
        functional equivalent thereof) shall be appointed for a single 
        term of 2 years.
            ``(ii) Exception.--If a member described in subsection 
        (b)(2)(A)(i) ceases to be a State credit union supervisor (or 
        the functional equivalent thereof) on a date prior to the 
        expiration of the 2-year period described in clause (i), such 
        member's membership on the Board shall terminate on that 
        date.''.
    ``(B) Restrictions.--
            ``(i) Same individual.--In filling a vacancy on the Board 
        for a member described in subsection (b)(2)(A)(i), the 
        President may not appoint an individual who has previously 
        served as a member described in subsection (b)(2)(A)(i).
            ``(ii) Same state.--In filling a vacancy on the Board for a 
        member described in subsection (b)(2)(A)(i) (other than a 
        vacancy occurring under subsection (b)(2)(A)(ii)), the 
        President may not appoint an individual who is serving as the 
        State credit union supervisor (or the functional equivalent 
        thereof) of the same State as the most recently appointed 
        member described in subsection (b)(2)(A)(i).''.
    (e) Noncompensation; Travel Expenses.--Section 102 of the Federal 
Credit Union Act (12 U.S.C. 1752a) is amended by adding at the end the 
following:
    ``(g) Personnel Matters Relating to State Credit Union 
Representatives.--Members of the Board described in subsection 
(b)(2)(A)(i)--
            ``(1) shall serve without compensation; and
            ``(2) shall be allowed travel expenses, including per diem 
        in lieu of subsistence, at rates authorized for employees of 
        agencies under subchapter I of chapter 57 of title 5, United 
        States Code, while away from their homes or regular places of 
        business in the performance of services for the Board.''.
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