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h_bus_2016a_2016-03-17t13:34:33z3 Hearing Summary

Date: 03/17/2016



Final

BILL SUMMARY for SB16-125



HOUSE COMMITTEE ON BUSINESS AFFAIRS AND LABOR


Votes: View--> Action Taken:
Refer Senate Bill 16-125 to the Committee of the W PASS







04:14 PM -- SB 16-125



Representative Kraft-Tharp introduced Senate Bill 16-125. The bill allows the board of directors of a credit union, if authorized by the credit union's bylaws, to appoint an audit committee in lieu of a supervisory committee, provided the audit committee performs the statutory duties of a supervisory committee. A record of the names and addresses of the audit committee members is to be filed with the State Commissioner of Financial Services within 20 days of their election or appointment. The bill also allows a credit union to provide reasonable compensation to a director for his or her service.



04:18 PM --
Scott Earl, Mountain West Credit Union Association, testified in support of the bill.



04:19 PM



Representative Kraft-Tharp made closing remarks on the bill.


BILL: SB16-125
TIME: 04:20:02 PM
MOVED: Kraft-Tharp
MOTION: Refer Senate Bill 16-125 to the Committee of the Whole. The motion passed on a vote of 13-0.
SECONDED: Pabon
VOTE
Arndt
Yes
Garnett
Yes
Navarro
Yes
Nordberg
Yes
Pabon
Yes
Rosenthal
Yes
Sias
Yes
Thurlow
Yes
Wilson
Yes
Winter
Yes
Wist
Yes
Kraft-Tharp
Yes
Williams
Yes
Final YES: 13 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS









04:21 PM



The committee adjourned.




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