Nonstandard Bylaw Amendment

02-0813 / August 2002
Nonstandard Bylaw Amendment

SSIC 6100

TO: [redacted]

FROM: Sheila A. Albin, Associate General Counsel

You have asked this office to review a request from a federal credit union (FCU) to amend its bylaw governing board of directors meetings. FCU Bylaws, Article VI, Section 5. We have no legal objections with an amendment that requires all directors to attend at least two regular meetings each calendar quarter in person. The proposed amendment is more restrictive than the FCU Bylaws, which only require that a quorum of directors be physically present at one meeting during the year. Id.

cc: All Regional Directors


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