Missouri HB2586 revises the par value of membership shares and allows for participation in board meetings by telephone or electronic means.

Missouri HB2586 modifies the par value of membership shares in credit unions, setting it between one dollar and one hundred dollars. The bill also allows credit union board meetings to include participation by telephone or electronic means, provided all directors can communicate simultaneously. Actions taken during these meetings retain the same legal effect as in-person meetings. Votes and other actions by directors must be conducted electronically, following board-approved procedures to verify director identity and ensure process integrity.

Missouri HB2586 revises the par value of membership shares and allows for participation in board meetings by telephone or electronic means.

Missouri HB2586 modifies the par value of membership shares in credit unions, setting it between one dollar and one hundred dollars. The bill also allows credit union board meetings to include participation by telephone or electronic means, provided all directors can communicate simultaneously. Actions taken during these meetings retain the same legal effect as in-person meetings. Votes and other actions by directors must be conducted electronically, following board-approved procedures to verify director identity and ensure process integrity.