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 | |
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VOTE
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Arndt
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Yes
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Garnett
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Yes
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Navarro
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Yes
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Nordberg
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Yes
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Pabon
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Yes
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Rosenthal
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Yes
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Sias
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Yes
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Thurlow
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Yes
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Wilson
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Yes
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Winter
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Yes
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Wist
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Yes
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Kraft-Tharp
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Yes
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Williams
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Yes
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Final YES: 13 NO: 0 EXC: 0 ABS: 0 FINAL ACTION: PASS
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04:21 PM
The committee adjourned.