May 11, 1998
p
George J. Anetakis, Esquire
337 Penco Road
Weirton, West Virginia 26062-3828
You have asked whether it is permissible for a former federal
credit union (FCU) director, who is currently serving on the board
of the FCU's wholly owned Credit Union Service Organization (CUSO)
to resign from the CUSO board and return to the FCU board to fill
a newly created position. We have no legal objection to a former
CUSO director being appointed to serve on the FCU's board but
would note that the director must run for election at the next
annual meeting. FCU Bylaws, Article VII, Section 3.
Sincerely,
Sheila A. Albin
Associate General Counsel
GC/MFR:bhs
SSIC 3700
98-0446