§ 5-17-56 — Meetings; Executive Sessions; Confidential Information

Alabama § 5-17-56

• Jurisdiction: Alabama
• Title 5: Banks and Financial Institutions
• Ch. 17: Credit Unions
• Art. 2: Alabama Credit Union Administration

Text

(a) The administrator shall comply with the Alabama Open Meetings Law, Chapter 25A of Title 36. The Credit Union Board shall meet not less than once every calendar year. Any meeting of the Credit Union Board may be held at any place in the state where it is called to meet by the administrator.
(b) In order to comply with state and federal confidentiality requirements, at any meeting, the Credit Union Board may enter executive session to do any of the following:
(1) Protect the confidentiality of reports or information under Section 5-17-60 and any other provisions of this title.
(2) Review information concerning the condition and affairs of any proposed credit union, any credit union, any subsidiary or affiliate of a credit union, or several credit unions or their subsidiaries, or to review the personal or financial information of individuals or credit union members.
(3) Undertake any purpose for which a governmental body is permitted to go into executive session under the Alabama Open Meetings Act.
(4) Accomplish any other purpose of the Credit Union Board that requires it to receive or consider information that is confidential under this title.
(5) Comply with any other state or federal law requiring confidentiality.
(c) Confidential information under this title includes all information set forth in subsection (b), as well as other information designated as confidential in this title or under state or federal law, and any other information as determined by the administrator.

Legislative History

(Acts 1985, No. 85-457, p. 425, §33; p. 315, Act 2014-317, p. 1122, §1; Act 2018-470, §1.)