On its last day in session, the Missouri legislature on Friday unanimously approved modernizing the state's credit union code, including lifting the $25,000 limit on unsecured loans for volunteers and establishing due process for removing officers or volunteers.
In companion bills, the House and Senate adopted the Credit Union Modernization Act, now due for expected signing by Gov. Jay Nixon.
Two other provisions in the legislation would authorize electronic balloting for mergers and conversions and provide consumer protections for personal information contained in examinations.
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