MassachusettsMassachusetts credit unions may pay directors for board service
Massachusetts credit unions may pay board members for board or committee service, with the amount set by the board at an annual meeting.
What it does
A credit union may pay board members for board or committee service. The board sets the amount at an annual meeting.
Argument forPaying directors could help credit unions recognize the time members spend on board and committee work.
Argument againstPaying directors could leave a credit union with less money for member services or other needs.
More detail
A credit union may pay each board member for board or committee service. This applies to members of a credit union’s board of directors. The board sets the amount at an annual meeting. The act declares itself an emergency law intended to take effect immediately; it was approved on August 26, 2026.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Aug 26Signed by the Governor Maura Healey, Chapter 195 of the Acts of 2026Latest
- Aug 17Enacted and laid before the GovernorMajor
- Aug 17EnactedBecame Law
- Aug 13Emergency preamble adopted
- Aug 13Emergency Preamble adopted
- Aug 10Read third (title changed) and passed to be engrossedPassed 2nd Chamber
- Aug 10Taken out of the Orders of the Day
- Jul 31Read second and ordered to a third readingMinor
- Jul 31Rules suspended
- Jul 31Committee reported that the matter be placed in the Orders of the Day for the next session
- Jul 31Accompanied by S821
- Jun 23Read; and referred to the committee on Senate RulesMinor
- Jun 18Read third, amended and passed to be engrossedPassed 1st Chamber
- Feb 12Read second and ordered to a third readingMinor
- Feb 12Rules suspended
- Feb 12Committee reported that the matter be placed in the Orders of the Day for the next sitting
- Jan 15Bill reported favorably by committee and referred to the committee on House Steering, Policy and SchedulingMinor
- Jan 15Reported on a part of H4931
- Jan 15Reported from the committee on House Rules
- Jan 15Accompanied a study order, see H4931
- 2025
- Oct 30Hearing rescheduled to 10/30/2025 from 10:30 AM-02:00 PM in A-2 Hearing updated to New End Time
- Oct 30Hearing rescheduled to 10/30/2025 from 10:30 AM-04:00 PM in A-2 Hearing updated to New End Time
- Oct 21Hearing scheduled for 10/30/2025 from 10:30 AM-01:00 PM in A-2
- Feb 27Senate concurred
- Feb 27Referred to the committee on Financial ServicesIntroduced
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