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Minutes for SB292 - Committee on Financial Institutions and Insurance
Short Title
Removing the 30-day prior notice requirement provided to a member before expulsion from a credit union.
Minutes Content for Tue, Jan 30, 2018
The Chairperson opened the hearing on SB292. Eileen Ma, Assistant Revisor of Statutes, presented an overview of the bill.
Stephanie Mullholland, Heartland Credit Union Association (HCUA), testified in support of the bill. She explained that SB292 seeks to modernize the statute to reflect the realities of today's market by way of four changes regarding membership expulsion policies, making the law more adaptive to the financial marketplace and protecting the integrity of the cooperative structure for all HCUA members. (Attachment 1)
Jerel Wright, Administrator of the Kansas Department of Credit Unions (KDCU) also testified in support of SB292. KDCU's primary responsibility is the regulation of the 65 credit unions chartered in Kansas. Their agency relies on the Kansas Credit Union Council to provide advice on matters important to the state-chartered credit unions and their members throughout the state. Mr. Wright urged support and passage of SB292. (Attachment 2)
Chairperson Longbine called the committee's attention to the proponent written-only testimony of Mandy Roe, Director of Member Services, Kansas Cooperative Council. (Attachment 3)
There being no other proponent, opponent, or neutral testimony submitted and no further questions or discussion, the Chairperson closed the hearing on SB292.
