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Pat Quinn, Governor
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Bylaw Admenments

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To expedite a bylaw amendment request, credit unions may print and complete Bylaw Amendment forms for certain changes (see list of forms below).  Changes to the field of membership must be submitted in writing to the Credit Union Section, with a letter of support from the Select Employee Group.   Requirements for a community charter request can also be found below. Please note – per Section 305/4 of the IL CU Act - any amendment that ALSO changes the Articles of Incorporation (i.e. Field of Membership, Par Value, Credit union name) must be voted on at a meeting of the members.


Please use the following checklist to complete the forms, and find the appropriate Bylaw Amendment Forms at the bottom of this page.

•       Print & complete TWO copies of the appropriate forms
•       Indicate what type of meeting was held (regular) (annual) (special) by either circling the correct type, or marking through the incorrect type(s) of meeting on all copies
•       Fill in the date of meeting on all copies
•       If a regular or special meeting of the Board was held, indicate how many Directors the credit union currently has (according to your bylaws) how many were present at the meeting, and how many voted in favor of the amendment.
•       If an annual meeting was held, indicate how many total members (including directors) the credit union had at the date of the meeting, how many were present at the meeting, and how many voted in favor of the amendment.
•       Obtain Secretary’s signature on all copies
•       Obtain the Corporate Seal in all required locations (once on each set of forms)
•       Obtain Chairman of the Board’s signature on all copies
•       Obtain Notary signature & have the Notary date and affixes seal on all copies
•       Dates Notary & Chairman sign MUST be the same.
•       Submit all copies to the Springfield DFI office:

IDFPR
Credit Union Section
320 W. Washington, Suite 550
Springfield, IL 62786

Upon receipt, the forms will be reviewed, and if approved, sent to the Director for signature.  An invoice for the amount due will be mailed to the credit union.  Following the director’s signature, one original copy will be sent to the Credit Union for their files, and one original copy will be maintained at DFI.

Amendments are not official until the Director has signed and dated the forms.

List of forms:

•       Bylaw-One vote per member
•       Credit Committee
•       Credit Committee – appoint Credit Manager
•       Executive Committee
•       Membership Committee
•       Supervisory Committee
•       Number of Directors
•       Number of Directors w/ Staggered Terms
•       Par Value of Shares
•       Quorum
•       Community Charter Requirements
All forms MUST be submitted in Duplicate.

 
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