ARTICLE
ND Legislative Update by Kayla Pulvermacher, State Legislative Director HB 1366 Update HB 1366, the repairman lien bill, had its hearing on Thursday. In preparation for the hearing, Dakota Credit Union Association, along with the North Dakota Bankers Association, Independent Community Bankers Association and Farm Credit Services, met to discuss how the financial community could make this legislation work for all parties affected. The agreed upon amendments dealt with provisions and protections that are required under Uniform Commercial Code (UCC), which the bill lacked. In testimony, DakCU President/CEO Jeff Olson testified that HB 1366 is not good for consumers, businesses, or lenders, and introduced the amendments. “While it may be swifter and cheaper to conduct a sale under the proposed language of HB 1366 instead of proceeding with a judicial sale, we believe the protections afforded the consumer and other lienholders under UCC should not be ignored,” Olson said. The bill was not immediately passed out of committee and will continue to be worked on in committee this Thursday. DakCU, along with the North Dakota Bankers Association, Independent Community Bankers Association and Farm Credit Services, plan to meet with The Pioneer Equipment Dealers Association in the coming days. Stay tuned. DakCU Members Put Pressure on Committee with Action Alert! Before the hearing of HB 1366 in the House, DakCU sent out a member action alert asking for concerned credit union advocates to send emails to committee members, and boy—did our members deliver! We believe this grassroots advocacy has contributed to the Chairman’s willingness to work with the financial institutions. We thank you for your responses and we will be sending additional action alerts in the future. As always, don’t hesitate to contact me regarding our North Dakota advocacy efforts.
ND Legislative Update
by Kayla Pulvermacher, State Legislative Director
HB 1366 Update
HB 1366, the repairman lien bill, had its hearing on Thursday.
In preparation for the hearing, Dakota Credit Union Association, along with the North Dakota Bankers Association, Independent Community Bankers Association and Farm Credit Services, met to discuss how the financial community could make this legislation work for all parties affected. The agreed upon amendments dealt with provisions and protections that are required under Uniform Commercial Code (UCC), which the bill lacked.
In testimony, DakCU President/CEO Jeff Olson testified that HB 1366 is not good for consumers, businesses, or lenders, and introduced the amendments. “While it may be swifter and cheaper to conduct a sale under the proposed language of HB 1366 instead of proceeding with a judicial sale, we believe the protections afforded the consumer and other lienholders under UCC should not be ignored,” Olson said.
The bill was not immediately passed out of committee and will continue to be worked on in committee this Thursday. DakCU, along with the North Dakota Bankers Association, Independent Community Bankers Association and Farm Credit Services, plan to meet with The Pioneer Equipment Dealers Association in the coming days. Stay tuned.
DakCU Members Put Pressure on Committee with Action Alert!
Before the hearing of HB 1366 in the House, DakCU sent out a member action alert asking for concerned credit union advocates to send emails to committee members, and boy—did our members deliver! We believe this grassroots advocacy has contributed to the Chairman’s willingness to work with the financial institutions. We thank you for your responses and we will be sending additional action alerts in the future.
As always, don’t hesitate to contact me regarding our North Dakota advocacy efforts.