Modifies provisions for credit union mergers and consolidations in Missouri.
This bill modifies the rules for merging and consolidating credit unions in Missouri. It allows credit unions to expand their membership to include new groups or geographic areas if certain criteria are met. The director of the division of credit unions must approve such expansions and mergers, considering factors like the combined field of membership's size, service area, and geographic location. The bill also mandates that the director publish decisions on applications and allows for appeals.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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