By Mr. Mariano of Quincy, petition (accompanied by bill, House, No. 1032) of Ronald Mariano for an investigation and study by a joint special committee of the organizational structure of state and federally-charted credit unions.  Financial Services.

The Commonwealth of Massachusetts

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PETITION OF:

Ronald Mariano

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In the Year Two Thousand and Seven.

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Resolve relative to credit unions.

    Resolved,

Resolved, That,  Notwithstanding any general law to the contrary, there is hereby established a six-member special commission, consisting of two members appointed by the president of the senate, one member appointed by the senate minority leader, two members appointed by the speaker of the house of representatives, and one member appointed by the house minority leader.

Said commission is hereby authorized and directed to conduct an investigation into the organizational structure of state and federally chartered credit unions, including membership, branch locations, investment guidelines, and the overall health of the financial marketplace in Massachusetts as governed by chapter 171 of the general laws. 

The special commission shall submit a report to the governor, the senate president, and the speaker of the house of representatives setting forth the special commission’s findings, along with its recommendations and specific legislative proposals, no later than January 1, 2008.

The special commission shall dissolve upon completion of its duties and obligations, as indicated by submission of its findings and recommendations.