S. 4808
IntroducedPrivately Insured Credit Unions Conversion Modernization Act
Full text of the bill
Official source on Congress.gov ↗[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4808 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4808 To amend the Federal Credit Union Act with respect to conversion modernization for privately insured credit unions. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 17, 2026 Ms. Cortez Masto (for herself and Mr. Moreno) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ A BILL To amend the Federal Credit Union Act with respect to conversion modernization for privately insured credit unions. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Privately Insured Credit Unions Conversion Modernization Act''. SEC. 2. CONVERSION MODERNIZATION FOR PRIVATELY 6 INSURED CREDIT UNIONS. Section 206(d)(2) of the Federal Credit Union Act (12 U.S.C. 1786(d)(2)) is amended-- (1) in the first sentence, by striking ``in a vote in which at least 20 per centum of the total membership of the credit union participates''; and (2) in the second sentence, by striking ``not more than thirty nor less than seven days'' and inserting ``not less than 90 days''. <all>
Plain-language analysis
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