Amending Credit Union Bylaws and Codes of Regulations

By John B.C. Porter, Partner As part of a credit union’s strategic planning, the topic of amending (or more appropriately modernizing) the credit union’s bylaws or code of regulations often surfaces as a priority. With advances in technology comes opportunity with respect to how the board of directors and members convene and vote. It is imperative…

Enforceability of Electronic Signatures

By David. A. Wolfe, Attorney E-Sign Act and Electronic Signatures In 2000, in order to address the concern whether electronic contracts could be enforceable and to provide procedures for keeping and retaining electronic records, disclosures and signatures, Congress enacted the Federal Electronic Signatures in Global and National Commerce Act (E-Sign). Under E-Sign, documents can be…

Deceased Member Issues

By David A. Wolfe, Attorney On occasion, credit unions are faced with the death of an account holder or borrower and the resultant issues that arise. The grief process is always difficult for the family and disputes may arise involving inheritance rights as the estate is settled.  If the member has a will, the process…