#aai? ,,congress  #a/ ,session  ,h4 ,r4 
#ige  ,,an ,,act  ,to am5d ! ,f$]al     
,cr$it ,union ,act to modify ! frequ5cy 
( bo>d ( directors meet+s1 & = o!r      
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,cr$it ,union ,bo>d        
,mod]nization ,act4  #b4 ,frequ5cy (    
bo>d ( directors meet+s ,section #aac ( 
! ,f$]al ,cr$it ,union ,act 7#ab        
,u4,s4,c4 #agfa;b7 is am5d$--  7#a7 by  
/rik+ mon?ly ea* place su* t]m appe>s2  
7#b7 9 ! matt] prec$+ p>agraph 7#a71 by 
/rik+ ,! bo>d ( directors & ins]t+ !    
foll[+3  7a7 ,9 g5]al ,! bo>d (         
directors  2  7#c7 9 subsection 7a7 7z s
 designat$71 by /rik+ %all meet at lea/ 
once a mon? &2 &  7#d7 by add+ at ! end 
! foll[+3  7b7 ,meet+s ,! bo>d (        
directors ( a ,f$]al cr$it union %all   
meet z foll[s3  7#a7 ,) respect to a de 
novo ,f$]al cr$it union1 n less         
frequ5tly ?an mon?ly dur+ ea* ( ! fir/  
five ye>s ( ! exi/5ce ( su* ,f$]al cr$it
 union4  7#b7 ,n less ?an six times     
annually1 ) at lea/ "o meet+ held dur+  

ea* fiscal qu>t]1 ) respect to a ,f$]al 
cr$it union--  7,a7 ) composite rat+ (  
ei!r #a or #b "u ! ,uni=m ,f9ancial     
,in/itutions ,rat+ ,sy/em 7or an        
equival5t rat+ "u a comp>able rat+      
sy/em72 &  7,b7 ) a capability (        
managem5t rat+ "u su* composite rat+ (  
ei!r #a or #b4  7#c7 ,n less frequ5tly  
?an once a mon?1 ) respect to a ,f$]al  
cr$it union-- 7,a7 ) composite rat+ (   
ei!r #c1 #d1 or #e "u ! ,uni=m ,f9ancial
 ,in/itutions ,rat+ ,sy/em 7or an       
equival5t rat+ "u a comp>able rat+      
sy/em72 or  7,b7 ) a capability (       
managem5t rat+ "u su* composite rat+ (  
ei!r #c1 #d1 or #e4  4  ,pass$ ! ,h\se (
 ,repres5tatives ,febru>y #aj1          
#bjbe4;,cl]k4