Minnesota legislation · 94th Legislature 2025-2026
Minnesota SF4444: Credit unions authorization to obtain insurance from a credit union share insurance provider
Status: In committee, April 15, 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; amending Minnesota Statutes 2024, sections 52.063, subdivision 3; 52.24, subdivisions 1, 2, by adding a subdivision.
From the introduced text, March 12, 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; amending Minnesota Statutes 2024, sections 52.063, subdivision 3; 52.24, subdivisions 1, 2, by adding a subdivision. Section 1. Minnesota Statutes 2024, section 52.063, subdivision 3, is amended to read: Subd. 3. Appointment of National Credit Union Administration Board as receiver. Upon a request by the commissioner of commerce, the court may appoint the National Credit Union Administration Board, created by section 3 of the Federal Credit Union Act, as amended,new text begin [ADDED: or a share insurance provider approved by the commissioner] new text end as receiver of a credit union, without bond, when the deposits of the credit union are to any extent insured by the National Credit Union Administration Boardnew text begin [ADDED: or approved share insurance provider] new text end , and the credit union has had its operations suspended or has executed a consent cease and desist order with the commissioner in lieu of a suspension under section 52.062. Notwithstanding any other provisions of law, the commissioner of commerce may, in the event of the suspension or consent cease and desist order, tender to the National Credit Union Administration Boardnew text begin [ADDED: or approved share insurance provider] …
Sponsors
- Nick Frentz (D) · primary sponsor
- Carla J. Nelson (R, 24)
- Karin Housley (R)
Latest actions
- : Rule 45-amend, subst. General Orders HF4118, SF indefinitely postponed
- : Second reading
- : Comm report: To pass
- : Referred to Commerce and Consumer Protection
- : Introduction and first reading
Common questions
- What is SF4444?
- SF4444 is a bill in the Minnesota Legislature (94th Legislature 2025-2026): Credit unions authorization to obtain insurance from a credit union share insurance provider.
- What does SF4444 do?
- In its own words: 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; amending Minnesota Statutes 2024, sections 52.063, subdivision 3; 52.24, subdivisions 1, 2, by adding a subdivision.
- What is the status of SF4444?
- In committee as of April 15, 2026. Latest action: Rule 45-amend, subst. General Orders HF4118, SF indefinitely postponed (April 15, 2026).
- Who sponsored SF4444?
- Nick Frentz (D), with 2 co-sponsors.
- Where is the official record for SF4444?
- On the Minnesota Legislature website: https://www.revisor.mn.gov/bills/bill.php?f=SF4444&y=2025&ssn=0&b=senate
Source: official Minnesota record. Tracked by Delilah, AI for legislation across all 50 states and Congress.