Financial institutions: credit unions; certain communication with a qualified private insurance organization; allow. Amends sec. 207 of 2003 PA 215 (MCL 490.207). TIE BAR WITH: HB 5779'26, HB 5780'26, HB 5781'26, HB 5782'26

Summary

The bill changes the credit union act so the state director can provide confidential examination documents to a private insurance organization that insures a credit union’s shares, provided the insurer keeps the information confidential. It preserves existing confidentiality protections and outlines how the director must handle subpoenas and discovery requests. The change is intended to improve coordination between regulators and insurers while safeguarding privileged data.

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