2015 House Bill 5021 / 2016 Public Act 156

Revise credit union law

Introduced in the House

Oct. 27, 2015

Introduced by Rep. Tom Barrett (R-71)

To revise and update many details of the state regulatory regime that governs the ownership, management and operations of credit unions. The bill is part of a legislative package consisting of House Bills 5017 to 5022, and addresses mergers. For more details see this House Fiscal Agency <a href="http://www.legislature.mi.gov/documents/2015-2016/billanalysis/House/htm/2015-HLA-5017-085C519A.htm">analysis</a>.

Referred to the Committee on Financial Services

Nov. 10, 2015

Reported without amendment

Without amendment and with the recommendation that the bill pass.

Dec. 9, 2015

Passed in the House 105 to 1 (details)

To revise and update many details of the state regulatory regime that governs the ownership, management and operations of credit unions. The bill is part of a legislative package consisting of House Bills 5017 to 5022, and addresses mergers.

Received in the Senate

Dec. 10, 2015

Referred to the Committee on Banking and Financial Institutions

March 10, 2016

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

May 18, 2016

Passed in the Senate 37 to 0 (details)

To revise and update many details of the state regulatory regime that governs the ownership, management and operations of credit unions. The bill is part of a legislative package consisting of House Bills 5017 to 5022, and addresses mergers.

Received in the House

May 18, 2016

May 31, 2016

Passed in the House 109 to 0 (details)

Signed by Gov. Rick Snyder

June 8, 2016