Minnesota legislation · 94th Legislature 2025-2026
Minnesota HF4118: Credit unions authorized to obtain insurance from a credit union share insurance provider, credit union share guaranty corporations regulated, and conforming changes made.
Status: Signed into law, August 1, 2026
What the bill says
A bill for an act relating to financial institutions; authorizing credit unions to obtain insurance from a credit union share insurance provider; regulating credit union share guaranty corporations; making conforming changes; amending Minnesota Statutes 2024, sections 11A.24, subdivision 4; 17.59, subdivision 4; 46A.01, subdivision 10; 52.001, by adding a subdivision; 52.04, subdivision 1; 52.063, subdivision 3; 52.09, subdivision 2; 52.24, subdivisions 1, 2, by adding a subdivision; 53B.28, subdivision 10; 53B.29; 53B.38; 53B.62, subdivisions 1, 2; 60A.091; 67A.231; 79A.22, subdivision 7…
From the engrossed text, April 7, 2026:
A bill for an act relating to financial institutions; authorizing credit unions to obtain insurance from a credit union share insurance provider; regulating credit union share guaranty corporations; making conforming changes; amending Minnesota Statutes 2024, sections 11A.24, subdivision 4; 17.59, subdivision 4; 46A.01, subdivision 10; 52.001, by adding a subdivision; 52.04, subdivision 1; 52.063, subdivision 3; 52.09, subdivision 2; 52.24, subdivisions 1, 2, by adding a subdivision; 53B.28, subdivision 10; 53B.29; 53B.38; 53B.62, subdivisions 1, 2; 60A.091; 67A.231; 79A.22, subdivision 7; 80A.41; 80A.45; 82.77, subdivision 1; 118A.04, subdivision 5; 123B.14, subdivision 3; 142F.20, subdivision 2; 149A.97, subdivisions 3a, 5; 325K.01, subdivision 12; 354B.25, subdivision 2; 356.001, subdivision 3; 356.645; 356A.06, subdivisions 6, 7, 8a; 366.01, subdivision 4; 385.07; 424B.22, subdivision 9; 427.06; 524.3-715. Section 1. Minnesota Statutes 2024, section 11A.24, subdivision 4, is amended to read: Subd. 4. Other obligations. (a) The state board is authorized to invest funds in: (1) bankers acceptances and deposit notes if issued by a United States bank that is rated in the highest four quality categories by a nationally recognized rating agency; (2) certificates of deposit if issued by a United States bank or savings institution that is rated in the top four quality categories by a nationally recognized rating agency or whose certificates of deposit are fully insured by federal agencies, or certificates …