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Federal Credit Union Bylaws

NCUA · final-rule · Published 2023-07-26 · Effective 2023-08-25 · 88 FR 48055

Document

Document number
2023-15715
Federal Register citation
88 FR 48055
CFR reference
12 CFR 701
Type
Rule
Action
Final rule.
Category
final-rule
Agency
US National Credit Union Administration
Publication date
2023-07-26
Effective date
2023-08-25

Abstract

On March 15, 2022, Congress enacted the Credit Union Governance Modernization Act of 2022 (Governance Modernization Act). Under the statute, the NCUA has 18 months following the date of enactment to develop a policy by which a Federal credit union (FCU) member may be expelled for cause by a two-thirds vote of a quorum of the FCU's board of directors. The NCUA Board (Board) is issuing this final rule to amend the standard FCU bylaws (FCU Bylaws) to adopt such a policy.

Source

Authoritative
Federal Register document
Machine
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