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Committee approves clarification requiring credit unions to file articles with Secretary of State
Summary
House Bill 181 clarifies filing requirements under the Credit Union Act so that articles of incorporation are filed with the Secretary of State on formation, aligning credit-union practice with filings for other business entities. The committee voted to send the bill to the House floor with a due-pass recommendation.
Representative Jeff Baylor (District 21) told the committee House Bill 181 resolves confusion about whether credit unions must file their original articles of incorporation with the Secretary of State or only report amendments to the Department of Finance. "Some credit unions were doing it…
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