Proposed Rule Review (Texas SCUs)
Friday, December 7, 2018 8:45 AM

The Texas Credit Union Commission will review and consider for re-adoption, revision, or repeal Chapter 91, §§91.501, (Director Eligibility and Disqualification), 91.502 (Director/Committee Member Fees, Insurance Reimbursable Expenses, and Other Authorized Expenditures), 91.503 (Change in Credit Union President), 91.510 (Bond and Insurance Requirements, 91.515 (Financial Reporting), 91.516 (Audits and Verifications), 91.601 (Share and Deposit Accounts), 91.602 (Solicitation and Acceptance of Brokered Deposits), 91.608 (Confidentiality of Member Records), and 91.610 (Safe Deposit Box Facilities).

An assessment will be made by the Commission as to whether the reasons for adopting or readopting these rules continue to exist. Each rule will be reviewed to determine whether it is obsolete, whether the rule reflects current legal and policy considerations, and whether the rule reflects current procedures of the Credit Union Department.

Comments or questions regarding these rules may be submitted in writing to, Credit Union Department, 914 East Anderson Lane, Austin, Texas 78752-1699, or electronically to cudmail@cud.texas.gov. The deadline for comments is December 17, 2018.

The Commission also invites your comments on how to make these rules easier to understand. For example:

  • Do the rules organize the material to suit your needs? If not, how could the material be better organized?
  • Do the rules clearly state the requirements? If not, how could the rule be more clearly stated?
  • Do the rules contain technical language or jargon that isn’t clear? If so, what language requires clarification?
  • Would a different format (grouping and order of sections, use of headings, paragraphing) make the rule easier to understand? If so, what changes to the format would make the rule easier to understand?
  • Would more (but shorter) sections be better in any of the rules? If so, what sections should be changed?

Any proposed changes to these rules as a result of the rule review will be published in the Proposed Rule Section of the Texas Register. The proposed rules will be open for public comment prior to final adoption by the Commission.

Source:  TCUD