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Synopsis As Introduced Amends the Illinois Credit Union Act. In provisions concerning the meeting of members, provides that a proxy may be revoked by a written statement to that effect, by execution of a subsequently-dated proxy, or by attendance at a meeting and voting in person. Effective immediately.
Replaces everything after the enacting clause. In provisions concerning the meeting of members, provides that a member may revoke a proxy by delivery to the credit union of a written statement to that effect, by execution of a subsequently dated proxy, or by attendance at a meeting and voting in person. In provisions concerning an annual external independent audit, provides that a copy of an external independent audit shall be completed and mailed to the Director of the Illinois Department of Financial Institutions no later than 90 days after December 31 of each year; provided that a credit union or group of credit unions may obtain an extension of the due date, upon application to and receipt of written approval from the Director (rather than mailing the audit to the Director upon completion). Effective immediately.
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