Privately Insured Credit Unions Conversion Modernization Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 4808 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
                                S. 4808

   To amend the Federal Credit Union Act with respect to conversion 
           modernization for privately insured credit unions.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             June 17, 2026

Ms. Cortez Masto (for herself and Mr. Moreno) introduced the following 
 bill; which was read twice and referred to the Committee on Banking, 
                       Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL

 
   To amend the Federal Credit Union Act with respect to conversion 
           modernization for privately insured credit unions.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Privately Insured Credit Unions 
Conversion Modernization Act''.

SEC. 2. CONVERSION MODERNIZATION FOR PRIVATELY 6 INSURED CREDIT UNIONS.

    Section 206(d)(2) of the Federal Credit Union Act (12 U.S.C. 
1786(d)(2)) is amended--
            (1) in the first sentence, by striking ``in a vote in which 
        at least 20 per centum of the total membership of the credit 
        union participates''; and
            (2) in the second sentence, by striking ``not more than 
        thirty nor less than seven days'' and inserting ``not less than 
        90 days''.
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