HOUSE BILL No. 5517


     December 12, 2001, Introduced by Reps. Waters, Koetje, Toy, Julian, Bishop, Caul, Van Woerkom, Mead, Gosselin, Gilbert, Faunce, Meyer,
Hummel, Woronchak, Birkholz, Newell, Tabor, Voorhees, Rocca, Neumann, Middaugh, Ruth Johnson, George, Bisbee, Shackleton, Lockwood,
Richardville, Schauer, Ehardt, Kowall, Pumford, Jelinek, Bernero, Allen, Pestka, Basham, Sheltrown, DeVuyst, Callahan, Rivet, Hager, Shulman, Kuipers,
Zelenko, Lipsey, Phillips, Raczkowski, Frank, Jacobs, McConico, Whitmer, Cassis and Pappageorge and referred to the Committee on Insurance and
Financial Services.


        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 16c.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

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           SEC. 16C.  (1) IF A PERSON OR ORGANIZATION HAS RECEIVED A

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      TERRORIST DESIGNATION UNDER SECTION 219 OF CHAPTER 2 OF TITLE II

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      OF THE IMMIGRATION AND NATIONALITY ACT, CHAPTER 477, 110

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      STAT. 1248, 8 U.S.C. 1189, A CREDIT UNION SHALL FREEZE ALL FUNDS




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      AND ASSETS DEPOSITED WITH OR HELD BY THE CREDIT UNION ON BEHALF

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      OF THAT PERSON OR ORGANIZATION.

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           (2) UPON APPLICATION BY THE ATTORNEY GENERAL, A COURT MAY

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      ORDER A CREDIT UNION TO FREEZE ALL FUNDS AND ASSETS DEPOSITED

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      WITH OR HELD BY THE CREDIT UNION ON BEHALF OF AN ACCOUNT HOLDER

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      THE ATTORNEY GENERAL HAS PROBABLE CAUSE TO BELIEVE HAS COMMITTED

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      OR IS ABOUT TO COMMIT A TERRORIST ACT OR AN ACCOUNT HOLDER

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      INVOLVED WITH PROVIDING MATERIAL SUPPORT OR RESOURCES TO ANOTHER

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      PERSON WHO HAS COMMITTED OR IS ABOUT TO COMMIT A TERRORIST ACT.

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           (3) AS USED IN THIS SECTION:

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           (A) "MATERIAL SUPPORT OR RESOURCES" MEANS ANY KIND OF FINAN-

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      CIAL SUPPORT, LODGING, TRAINING, FALSE DOCUMENTATION, COMMUNICA-

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      TION EQUIPMENT, WEAPONS, TRANSPORTATION, OR ANY OTHER ASSET OR

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      RESOURCE.

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           (B) "TERRORIST ACT" MEANS ANY UNLAWFUL ACT INVOLVING THE USE

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      OF ANY WEAPON, DEVICE, OR INSTRUMENT TO CAUSE INJURY OR DAMAGE TO

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      PERSONS OR PROPERTY FOR POLITICAL OR FINANCIAL GAIN OR TO CAUSE

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      THE IMPAIRMENT OR INTERRUPTION OF PUBLIC COMMUNICATIONS, TRANS-

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      PORTATION, UTILITIES, OR ANY OTHER PUBLIC SERVICE.



















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