119 S4808 IS: Privately Insured Credit Unions Conversion Modernization Act U.S. Senate 2026-06-17 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II119th CONGRESS2d SessionS. 4808IN THE SENATE OF THE UNITED STATESJune 17, 2026Ms. Cortez Masto (for herself and Mr. Moreno) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban AffairsA BILLTo amend the Federal Credit Union Act with respect to conversion modernization for privately insured credit unions.

1.

Short title

This Act may be cited as the Privately Insured Credit Unions Conversion Modernization Act.

2.

Conversion modernization for privately 6 insured credit unions

Section 206(d)(2) of the Federal Credit Union Act (12 U.S.C. 1786(d)(2)) is amended—(1)in the first sentence, by striking in a vote in which at least 20 per centum of the total membership of the credit union participates; and(2)in the second sentence, by striking not more than thirty nor less than seven days and inserting not less than 90 days.