ASSEMBLY FINANCIAL INSTITUTIONS COMMITTEE

STATEMENT TO

ASSEMBLY, No. 588

STATE OF NEW JERSEY

DATED: MARCH 4, 1996

      The Assembly Financial Institutions Committee reports favorably Assembly Bill No. 588.

      This bill permits the appointment of a member of a federally chartered credit union within the State to the New Jersey Credit Union Advisory Council. At present, only members of State chartered credit unions may be appointed to this advisory council.

      This bill was pre-filed for introduction in the 1996 session pending technical review. As reported, the bill includes the changes required by technical review which has been performed.