[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5981 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 5981

To amend the Federal Credit Union Act to modify the frequency of board 
             of directors meetings, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                           February 26, 2020

Ms. Porter (for herself and Mr. Amodei) introduced the following bill; 
       which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To amend the Federal Credit Union Act to modify the frequency of board 
             of directors meetings, 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 ``Credit Union Board Modernization 
Act''.

SEC. 2. FREQUENCY OF BOARD OF DIRECTORS MEETINGS.

    Section 113 of the Federal Credit Union Act (12 U.S.C. 1761b) is 
amended--
            (1) by striking ``at least once a month'' and inserting 
        ``not less than six times annually, with at least one meeting 
        held during each fiscal quarter,''; and
            (2) by striking ``monthly'' each place such term appears.
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