HOUSE BILL No. 5195


     October 11, 2001, Introduced by Reps. Daniels, Jamnick, Quarles, Neumann, Hale, DeWeese, Wojno, Voorhees, Anderson, Clark, Garza,
Woronchak, Kolb, Stallworth, Toy, McConico, O'Neil, Hardman and Lemmons and referred to the Committee on Commerce.


        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 or any other federally insured deposi-
   tory institution 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 or any other feder-
   ally insured depository institution 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 14a.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

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           SEC. 14A.  A CREDIT UNION SHALL NOT ASSESS A FEE OR CHARGE

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      FOR THE CASHING, NEGOTIATING, OR OTHERWISE PROCESSING OF A CHECK

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      OR DRAFT DRAWN ON AN ACCOUNT OF THE CREDIT UNION.






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