Amends TCA Title 45, Chapter 2; Title 45, Chapter 4 and Title 45, Chapter 7.
Tennessee SB1870 proposes the termination of the state credit union share insurance corporation, which currently protects member credit unions' shareholdings and deposits against loss. The bill affects member credit unions in Tennessee by eliminating the associated capital fund, which consists of capital contributions and special assessments from these institutions. Additionally, the bill includes various revisions related to the operations and regulations of credit unions.
Tennessee SB1870 proposes the termination of the state credit union share insurance corporation, which currently protects member credit unions' shareholdings and deposits against loss. The bill affects member credit unions in Tennessee by eliminating the associated capital fund, which consists of capital contributions and special assessments from these institutions. Additionally, the bill includes various revisions related to the operations and regulations of credit unions.
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