Massachusetts legislation · 194th General Court
Massachusetts H5625: An Act relative to the Massachusetts Credit Union Share Insurance Corporation
Status: In committee, August 4, 2026
What the bill says
An Act relative to the Massachusetts Credit Union Share Insurance Corporation. of the same, as follows.
From the introduced text, July 30, 2026:
An Act relative to the Massachusetts Credit Union Share Insurance Corporation. of the same, as follows: SECTION 1. Section 5 in section 1 of chapter 294 of the acts of 1961, as amended by section 1 of chapter 306 of the acts of 1973, is hereby further amended by striking out the second paragraph and inserting in place thereof the following paragraph:- The board of directors shall meet at least quarterly. A majority of the directors shall constitute a quorum. SECTION 2. Section 6 in said section 1 of said chapter 294, as most recently amended by section 2 of chapter 323 of the acts of 2020, is hereby further amended by striking out the first paragraphs and inserting in place thereof the following 4 paragraphs:- Whenever it shall appear to the commissioner that it is inadvisable or inexpedient for any member to continue to transact the business for which it was organized without receiving financial or other assistance, the commissioner may, in the commissioner's discretion, so notify the directors of the corporation, and thereupon the directors of the corporation make take any of action in their opinion that they deem necessary to reduce the risk or avert a threatened loss to the corporation. Notwithstanding any other provision of law, the corporation may merge or consolidate such member or may …
Sponsors
- Daniel Cahill (D, 10th Essex)
- Lisa Field (D, 3rd Bristol)
- Christopher Flanagan (D)
Latest actions
- : Read; and referred to the committee on Senate Ways and Means
- : Read third and passed to be engrossed
- : Rules suspended
- : Ordered to a third reading
- : New draft of H3933
- : Pending new draft of H3933
- : Reported from the committee on House Ways and Means
Common questions
- What is H5625?
- H5625 is a bill in the Massachusetts Legislature (194th General Court): An Act relative to the Massachusetts Credit Union Share Insurance Corporation.
- What does H5625 do?
- In its own words: An Act relative to the Massachusetts Credit Union Share Insurance Corporation. of the same, as follows.
- What is the status of H5625?
- In committee as of August 4, 2026. Latest action: Read; and referred to the committee on Senate Ways and Means (August 4, 2026).
- Who sponsored H5625?
- Daniel Cahill (D, 10th Essex), with 2 co-sponsors.
- Where is the official record for H5625?
- On the Massachusetts Legislature website: https://malegislature.gov/Bills/194/H5625
Source: official Massachusetts record. Tracked by Delilah, AI for legislation across all 50 states and Congress.