[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 1872 Introduced in Senate (IS)]







106th CONGRESS
  1st Session
                                S. 1872

To amend the Federal Credit Union Act with respect to the definition of 
                        a member business loan.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            November 5, 1999

Mr. Sessions (for himself and Mr. Dodd) introduced the following bill; 
which was read twice and referred to the Committee on Banking, Housing, 
                           and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To amend the Federal Credit Union Act with respect to the definition of 
                        a member business loan.

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

SECTION 1. MEMBER BUSINESS LOAN EXCEPTION.

    Section 107a(c)(1)(B) of the Federal Credit Union Act (12 U.S.C. 
1757a(c)(1)(B)) is amended--
            (1) in clause (iv), by striking ``or'' at the end;
            (2) in clause (v), by striking the period and inserting ``; 
        or''; and
            (3) by adding at the end the following:
                            ``(vi) that is made to a nonprofit 
                        religious organization.''.
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