H*3751(Rat #0576, Act #0511 of 1988)  General Bill, By T.M. Burriss and 
C.M. Dangerfield
 A Bill to amend Section 34-27-80, Code of Laws of South Carolina, 1976,
 relating to annual and special meetings of credit unions, so as to revise the
 notice requirements for special meetings of credit unions.

   02/11/88  House  Introduced and read first time HJ-1103
   02/11/88  House  Referred to Committee on Labor, Commerce and
                     Industry HJ-1104
   03/09/88  House  Committee report: Favorable Labor, Commerce and
                     Industry HJ-1825
   03/16/88  House  Read second time HJ-2143
   03/16/88  House  Unanimous consent for third reading on next
                     legislative day HJ-2145
   03/17/88  House  Read third time and sent to Senate HJ-2164
   03/22/88  Senate Introduced and read first time SJ-12
   03/22/88  Senate Referred to Committee on Banking and Insurance SJ-1
   04/14/88  Senate Committee report: Favorable Banking and Insurance
                     SJ-182
   04/19/88  Senate Read second time SJ-53
   04/27/88  Senate Read third time and enrolled SJ-42
   05/03/88         Ratified R 576
   05/09/88         Signed By Governor
   05/09/88         Effective date 05/09/88
   05/09/88         Act No. 511
   05/19/88         Copies available

AN ACT TO AMEND SECTION 34-27-80, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO ANNUAL AND SPECIAL MEETINGS OF CREDIT UNIONS, SO AS TO REVISE THE NOTICE REQUIREMENTS FOR SPECIAL MEETINGS OF CREDIT UNIONS.

Be it enacted by the General Assembly of the State of South Carolina:

Special meeting notice requirement

SECTION 1. Section 34-27-80 of the 1976 Code is amended to read:

"Section 34-27-80. The annual meeting of the credit union must be held at that time and place as bylaws prescribe. Special meetings may be held by order of the directors or the supervision committee, and the secretary shall give notice of special meetings upon request, in writing, of twenty-five members or five percent of the membership as of the date of the request but not more than two hundred, whichever number is larger. Notice of all meetings of the credit union must be given in the manner prescribed by the bylaws. No person is entitled to vote who has not been a member for more than three months, but this restriction does not apply during the first twelve months of existence of the credit union, nor may any member vote by proxy or have more than one vote. At the annual meeting the members, upon recommendation of the board of directors, shall fix the amount of the entrance fee. At any meeting the members may decide upon any question of interest to the credit union, upon appeal of two members may reverse decisions of the credit committee or board of directors, and by a three-fourths vote of those present, provided the notice of the meeting has specified the question to be considered, may amend the bylaws."

Time effective

SECTION 2. This act takes effect upon approval by the Governor.