p George J. Anetakis, Esquire
337 Penco Road
Weirton, West Virginia 26062-3828
Re: Director Appointments, Your letter dated April 24, 1998.
Dear Mr. Anetakis:
You have asked whether it is permissible for a former federal credit union (FCU) director, who is currently serving on the board of the FCU's wholly owned Credit Union Service Organization (CUSO) to resign from the CUSO board and return to the FCU board to fill a newly created position. We have no legal objection to a former CUSO director being appointed to serve on the FCU's board but would note that the director must run for election at the next annual meeting. FCU Bylaws, Article VII, Section 3.
Sheila A. Albin
Associate General Counsel