<p>ALEXANDRIA, Va.-In a recent legal opinion letter (01-1176), NCUA’s Office of General Counsel told the California Credit Union League that federal credit unions may not conduct a board meeting via e-mail. According to the agency, using e-mail would violate the Model Business Corporation Act, requiring all directors to hear each other simultaneously during the meeting. “The limitations of e-mail would preclude the chair from controlling the meeting and complying with general corporate law,” Associate General Counsel Sheila Albin said. However, Albin said the Office of General Counsel would not object to a federal credit union applying to its regional office for a nonstandard bylaw amendment that would permit directors to vote on a board resolution without a meeting if all the directors consent to the action either in writing, including e-mail.</p>

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