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Credit Union Bill Moves to Governor’s Desk

The Missouri Senate voted unanimously (33-0) in support of HB 478 on Tuesday, May 7. The bill modernizes the Missouri Credit Union Statute dealing with joint accounts. 

State Sen. Gary Romine (R-District 3) handled HB 478 in the Senate and introduced the legislation on the floor. No other senator spoke on the bill before it came to a vote. However, credit union friend Paul LeVota was prepared to speak in favor of the bill if it faced opposition.

“I am very pleased HB 478 cleared its last hurdle in the General Assembly,” says Peggy Nalls, chief advocacy officer for Missouri Credit Union Association. “The bill was voted out of the Missouri House by a vote of 153-1. It was voted out of the Missouri Senate 33-0. I think this is a clear signal both parties and both chambers agreed it was a good bill. Most importantly, they agreed it was important to finally update an outdated section of our state statute.”

The bill will now go to Gov. Jay Nixon for his signature. Gov. Nixon has until the first week in July to veto bills. If the bill is not vetoed, HB 478 will become law effective Aug. 28, 2013.

State Rep. Paul Wieland (R-District 112) is the bill’s originating sponsor.

Pictured:  State Sen. Gary Romine