Nonstandard Bylaw Amendment

99-0419 / April 1999
Nonstandard Bylaw Amendment

GC/MFR:bhs
SSIC 6080
99-0419

TO: [redacted]

FROM: Sheila A. Albin, Associate General Counsel

You have asked for concurrence from this office on [redacted] Corporate Federal Credit Union’s request to amend its bylaws. The proposed amendments allow the board to remove a board member who misses two meetings within a four month period and to remove a committee member who misses two meetings within any calendar year. These attendance requirements are stricter than those in the standard corporate bylaws. We have no legal objection to the proposed amendments, but note that your memo incorrectly states that the proposed amendments hold committee members to a higher attendance standard than directors.

Last modified on
08/31/20