Bill Text: IA SF506 | 2019-2020 | 88th General Assembly | Enrolled
Bill Title: A bill for an act relating to procedural requirements for the merger of state credit unions. (Formerly SSB 1177.) Effective 7-1-19.
Spectrum: Committee Bill
Status: (Passed) 2019-04-23 - Signed by Governor. S.J. 1075. [SF506 Detail]
Download: Iowa-2019-SF506-Enrolled.html
Senate
File
506
-
Enrolled
Senate
File
506
AN
ACT
RELATING
TO
PROCEDURAL
REQUIREMENTS
FOR
THE
MERGER
OF
STATE
CREDIT
UNIONS.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
533.401,
Code
2019,
is
amended
by
adding
the
following
new
subsection:
NEW
SUBSECTION
.
1A.
Prior
to
the
sending
of
notice
of
balloting
for
the
membership
vote
on
a
merger,
a
merging
credit
union
shall
submit
to
the
superintendent
all
materials
to
be
included
in
the
notice
at
least
fifteen
days
before
the
notice
is
sent
to
the
members.
The
superintendent
shall
review
and
approve
the
materials
to
be
included
in
the
notice
at
least
ten
days
before
the
notice
is
sent
to
the
members.
The
superintendent
may
direct
any
materials
to
be
included
in
the
notice
of
balloting
sent
to
members.
Senate
File
506,
p.
2
Sec.
2.
Section
533.401,
subsection
3,
Code
2019,
is
amended
by
adding
the
following
new
paragraph:
NEW
PARAGRAPH
.
0a.
All
materials
included
in
the
notice
of
balloting
for
the
membership
vote
on
the
merger
were
reviewed
and
approved
by
the
superintendent
pursuant
to
subsection
1A.
______________________________
CHARLES
SCHNEIDER
President
of
the
Senate
______________________________
LINDA
UPMEYER
Speaker
of
the
House
I
hereby
certify
that
this
bill
originated
in
the
Senate
and
is
known
as
Senate
File
506,
Eighty-eighth
General
Assembly.
______________________________
W.
CHARLES
SMITHSON
Secretary
of
the
Senate
Approved
_______________,
2019
______________________________
KIM
REYNOLDS
Governor
