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Bills · 2011-2012 Regular Session

AB 468

Died at session end Official bill text Atom feed

the authority of credit unions to make donations and grants.

  1. Introduced, stopped here
  2. Passes Assembly, not reached
  3. Passes Senate, not reached
  4. Governor signs, not reached
  5. Law, not reached

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

Current law specifies various powers of credit unions. Among these powers, a

credit union may make donations and grants, subject to the limitation that the total

donations and grants may not exceed 0.5 percent of its regular reserves within the

year.

This bill increases, from 0.5 percent to 1.0 percent, the limitation on the amount

of donations and grants a credit union may make and requires that any donation or

grant be approved by the credit union's board of directors based on a determination

that the donation or grant is in the best interest of the credit union and is reasonable

given the size and financial condition of the credit union.

Sponsors

Introduced by: A. Ott (R) , Bewley (D) , Brooks (R) , C. Taylor (D) , Craig (R) , Danou (D) , Endsley (R) , Fields (D) , Honadel (R) , Jacque (R) , Kaufert (R) , Kerkman (R) , Kooyenga (R) , Krug (R) , LeMahieu (R) , Molepske Jr (D) , Nygren (R) , Pocan (D) , Spanbauer (R) , Staskunas (D) , Stroebel (R) , Tauchen (R) , Wynn (R) , Zepnick (D)

9 cosponsors

Cowles (R) , Grothman (R) , Hansen (D) , Lassa (D) , Moulton (R) , S. Coggs (D) , Schultz (R) , Vinehout (D) , Wanggaard (R)

Full history

  1. Jan 9, 2012 · Assembly

    Introduced by Representatives Kooyenga, Krug, Jacque, Spanbauer, Molepske Jr, Brooks, Staskunas, Nygren, Craig, Danou, Honadel, Pocan, Endsley, Kerkman, A. Ott, Wynn, Tauchen, Fields, C. Taylor, Stroebel, LeMahieu, Bewley, Kaufert and Zepnick;Cosponsored by Senators Grothman, Schultz, Lassa, S. Coggs, Wanggaard, Moulton, Hansen, Cowles and Vinehout

  2. Jan 9, 2012 · Assembly

    Read first time and referred to committee on Financial Institutions

  3. Mar 23, 2012 · Assembly

    Failed to pass pursuant to Senate Joint Resolution 1