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1995 SESSION

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HB 2082 Credit unions; shared service facilities.

Introduced by: Gladys B. Keating | all patrons    ...    notes | add to my profiles

SUMMARY:

Credit unions; shared service facilities. Authorizes a credit union to (i) contract with one or more other credit unions to provide for the operation of one or more shared service facilities or (ii) provide for its members to have the use of one or more shared service facilities by contracting with a credit union service organization approved by the Commissioner of Financial Institutions for such purpose. The bill extends the Commissioner's authority to supervise and regulate credit unions to any shared service facility and any credit union service organization that is involved in the operation of a shared service facility which provides service to credit unions organized under Virginia's governing credit unions, except that such authority does not extend to the records of any federal credit union or credit union organized under the laws of another state.


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