FROM: Sheila A. Albin, Associate General Counsel
You have requested comment on a nonstandard bylaw amendment submitted for approval by the [redacted] Federal Credit Union. The credit union wants to change Article VI, Section 2(d)(7) of its bylaws to allow its members as much time as practicable to submit election ballots. You have suggested that Section 2(d)(7), as amended, read as follows: “Ballots mailed to the tellers must be received by the tellers no later than midnight 1 day prior to the annual meeting.” We have no legal objections to the proposed amendment.
cc: All Regional Directors