Nonstandard Bylaw Amendment

OGC/MFR:bhs
 SSIC 6100
01-1041

TO: [redacted]

FROM: Sheila A. Albin, Associate General Counsel

You have requested our comments on a nonstandard bylaw amendment that places the federal credit union’s (FCU’s) “member in good standing” policy in the FCU Bylaws. The policy allows members that are not in good standing to attend and vote at annual meetings and to maintain a share account. We have no legal concerns with the proposed nonstandard amendment.