Nonstandard Bylaw Amendment

GC/MFR:bhs
SSIC 6100
99-0559

TO: [redacted]

FROM: Sheila A. Albin, Associate General Counsel

We have no legal objection to the proposed nonstandard bylaw amendment that prohibits directors and committee members and their immediate family members, with the exception of the Treasurer, from being paid employees of the credit union. The amendment is more restrictive than Article VIII, Section 7 of the FCU Bylaws but less restrictive than the standard amendment for this provision.