MichiganCredit unions could skip state approval for limited bylaw edits
Credit unions formed under Michigan law could skip state approval for technical or logistical edits to internal rules if the state director defines those terms.
What it does
Credit unions formed under Michigan law could skip state approval for internal-rule edits limited to technical or logistical matters, but only if the state director defines those terms.
The state director would have to offer an electronic way for credit unions formed under Michigan law to submit internal-rule edits that need state approval.
Argument forIf the director defines the exempt edits, credit unions could avoid waiting for state approval to make those limited changes.
Argument againstSkipping state review could let mistakes in exempt internal-rule edits go unnoticed before credit unions put them into effect.
More detail
Credit unions could skip state approval for edits limited to technical or logistical matters. This would cover bylaws, the internal rules of credit unions formed under Michigan law. The exception would apply only if the state director defines both terms.
The state director would have to establish an electronic submission process. The process would cover internal-rule amendments submitted for state approval by credit unions formed under Michigan law.
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Nov 5referred to Committee on FinanceLatest
- Vote recorded PASSED ROLL CALL # 265 YEAS 33 NAYS 0 EXCUSED 5 NOT VOTING 0. Result: pass.Upper
- Nov 5read a first timeMinor
- Nov 5received on 11/05/2026Minor
- Nov 5PASSED ROLL CALL # 265 YEAS 33 NAYS 0 EXCUSED 5 NOT VOTING 0Passed Senate
- Nov 5PLACED ON IMMEDIATE PASSAGE
- Nov 5RULES SUSPENDED
- Nov 5PLACED ON ORDER OF THIRD READING WITH SUBSTITUTE (S-2)
- Nov 5SUBSTITUTE (S-2) CONCURRED IN
- Nov 5REPORTED BY COMMITTEE OF THE WHOLE FAVORABLY WITH SUBSTITUTE (S-2)Minor
- Oct 27REFERRED TO COMMITTEE OF THE WHOLE WITH SUBSTITUTE (S-1)Minor
- Oct 27REPORTED FAVORABLY WITH SUBSTITUTE (S-1) 10/14/2026Minor
- Jun 10REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTIONMinor
- Jun 10INTRODUCED BY SENATOR MARY CAVANAGHIntroduced
- Nov 5referred to Committee on FinanceLatest
Economy & Jobs