Financial institutions: credit unions; notice requirements for certain closures by credit unions; modify. Amends sec. 221 of 2003 PA 215 (MCL 490.221).

This bill modifies Michigan's Credit Union Act to clarify the procedures and notice requirements when credit unions must close their offices due to emergencies or special state or national observances. It allows the state director or designated credit union officers to order closures during emergencies and requires these institutions to promptly inform the director and relevant government entities. Additionally, the legislation specifies that days when credit unions are closed under these provisions are treated as legal holidays or emergency conditions rather than banking days, while explicitly stating that employee obligations under state and federal laws remain unchanged.