Financial institutions; out-of-state credit unions.

From the Legislature

Financial institutions; out-of-state credit unions. Clarifies that the National Credit Union Administration is not required to designate an agent for service of process and agree that in the absence of such designation service may be upon the clerk of the State Corporation Commission. Current law requires out-of-state credit unions conducting business in the Commonwealth to have any insurer of shares designate such an agent and agree to such service in the absence of such a designation.