{"id":"AGY-FED-FINANCIAL-047","kind":"context","level":"federal","jurisdiction":"United States; National Credit Union Administration (federal)","state":"","metro":"","industry":"","agency":"FED-FINANCIAL","eco":"","issuer":"NCUA Chairman Rodney E. Hood","authority":"12 U.S.C. § 1758; 12 C.F.R. § 701.2","instrument":"Letter to Federal Credit Unions 20-FCU-04","title":"Federal Credit Union Meeting Flexibility During the COVID-19 Pandemic","dateIssued":"2020-11-01","effective":"November 2020 (extends 20-FCU-02 for 2021 annual meetings and board meetings)","end":"Through 2021 (a further letter extended the flexibility for 2022)","startDate":"2020-11-01","endDate":"2021-09-30","quarters":["2020Q4","2021Q1","2021Q2","2021Q3"],"types":["GATH","OTHER"],"addressees":["boards of directors and chief executive officers of all federal credit unions"],"clause":"The NCUA understands COVID-19 continues to affect federal credit unions and their members to varying degrees. The agency, therefore, is extending the relief measures outlined in Letter to Federal Credit Unions, 20-FCU-02, NCUA Actions Related to COVID-19 - Annual Meeting Flexibility. Under this authority, a federal credit union may adopt, by a two-thirds vote of its board of directors, the bylaw amendment below to Article IV without additional approvals by the NCUA.... Section 6. Emergency exception to in-person quorum requirement. This credit union may hold its annual meeting of the members, the required in-person regular meeting of the board of directors [and special member meetings virtually and without an in-person quorum].","enforcement":"Federal Credit Union Bylaws; 12 U.S.C. § 1786","functions":["OP governance (2021 annual member meetings and board meetings held virtually)","MK","CB members"],"notes":"A Q3 2021 instrument: the NCUA\u0027s November 2020 determination that 2021 member and board meetings could not be assumed to be held in person","sourceUrl":"https://www.ncua.gov/regulation-supervision/letters-credit-unions-other-guidance/federal-credit-union-meeting-flexibility-during-covid-19-pandemic","snapshot":"https://web.archive.org/web/2021/https://www.ncua.gov/regulation-supervision/letters-credit-unions-other-guidance/federal-credit-union-meeting-flexibility-during-covid-19-pandemic","fileExists":true,"fileBytes":491874,"grade":"primary","character":"context","description":"","collection":"AGY-FED-FINANCIAL","url":"/library/AGY-FED-FINANCIAL-047","exhibitUrl":"/exhibit/AGY-FED-FINANCIAL-047","citation":"NCUA Chairman Rodney E. Hood, Letter to Federal Credit Unions 20-FCU-04 (Nov. 1, 2020) (Ex. AGY-FED-FINANCIAL-047)","stateName":"","related":[]}