HOUSE BILL No. 5240


     February 1, 2000, Introduced by Reps. Thomas, Schauer, Hale, Bogardus, Scott, Schermesser, DeHart, Jacobs, Brater, Minore,
Spade, Dennis and Daniels and referred to the Committee on Insurance and Financial Services.


        A bill to amend 1925 PA 285, entitled

   "An act to provide for the organization, operation, and supervi-
   sion of credit unions; to provide for the conversion of a state
   credit union into a federal credit union or a credit union orga-
   nized and supervised under the laws of any other state or terri-
   tory of the United States and for the conversion of a federal
   credit union or a credit union organized and supervised under the
   laws of any other state or territory of the United States into a
   state credit union; and to provide for the merger of credit
   unions organized and supervised under the laws of this state,
   credit unions organized and supervised under the laws of any
   other state or territory of the United States, and federal credit
   unions,"

   (MCL 490.1 to 490.31) by adding section 16c.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

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           SEC. 16C.  A CREDIT UNION SHALL INCLUDE IN THE MATERIALS

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      PROVIDED TO A MEMBER UPON THE OPENING OF A DRAFT ACCOUNT INFORMA-

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      TION REGARDING THE MEMBER'S RIGHTS AND LIABILITIES INVOLVING THE

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      FORGERY OF CHECKS.





   02072'99 a          Final page.                          SAT