GC/MFR:bhs

                                                                                                                        SSIC 6100

                                                                                                                        98-0702

TO:                 

FROM:            Sheila A. Albin, Associate General Counsel

SUBJ:             Nonstandard Bylaw Amendment -

                        Your Memorandum dated June 30,1998.

DATE:                       

You have asked for our comments on [   ] Federal Credit Union’s (the FCU’s) request for a nonstandard bylaw amendment to Article VII, Section 4 of the Federal Credit Union Bylaws.  The FCU wishes to specify in its bylaws the day the regular board meeting will be held and that, if the regular meeting is rescheduled, a board member that misses it will not be recorded as absent from a regular board meeting.  We have no legal objection to the proposal.