SB 487 (2026): allowing credit union members to pay members of the board of directors for their services as a board member.
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- MLA
- “SB 487 (2026): allowing credit union members to pay members of the board of directors for their services as a board member.” Granite Record, https://graniterecord.org/bill/2026/sb487. Accessed 19 Oct. 2026.
- APA
- Granite Record. (n.d.). SB 487 (2026): allowing credit union members to pay members of the board of directors for their services as a board member. Retrieved 19 Oct. 2026, from https://graniterecord.org/bill/2026/sb487
- Chicago
- Granite Record. “SB 487 (2026): allowing credit union members to pay members of the board of directors for their services as a board member.” Accessed 19 Oct. 2026. https://graniterecord.org/bill/2026/sb487.
- BibTeX
@misc{bill-2026-sb487, title = {SB 487 (2026): allowing credit union members to pay members of the board of directors for their services as a board member.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/2026/sb487}, note = {Accessed 19 Oct. 2026} }
SB 487 (2026)
allowing credit union members to pay members of the board of directors for their services as a board member.
- Status: Signed into law
- Term: 2025-2026
- House committee: Commerce and Consumer Affairs
- Senate committee: Commerce
- Subject: Banking and Finance
- Chapter law: 188
The Story
It was introduced on January 7, 2026 and referred to the Senate Commerce committee. The committee held a public hearing on February 3, 2026. The committee voted unanimously, 5–0, to recommend that the Senate pass it, and the report was placed on the consent calendar. On February 19, 2026 the Senate voted to pass it on a voice vote and ordered it to a third reading. It crossed to the House on February 19, 2026 and was referred to the House Commerce and Consumer Affairs committee. The committee held a public hearing on April 8, 2026, with 4 people signed in online: 3 in support and 1 in opposition. The committee held a work session on April 21, 2026. The committee met in executive session on April 29, 2026 to vote on its recommendation. The committee voted unanimously, 15–0, to recommend that the House pass it, and the report was placed on the consent calendar. On May 14, 2026 the House voted to pass it on a voice vote. The bill was enrolled on June 4, 2026 — the final check of the text before it goes to the governor. The governor signed it on June 19, 2026, making it Chapter 188 of the session laws. It took effect on August 18, 2026.
Sponsors
- Sen. Daniel Innis (R - SD7) (prime sponsor)
- Rep. Anita Burroughs (D - Carr 2)
- Rep. John Hunt (R - Ches 14)
- Sen. Tim McGough (R - SD11)
- Sen. Keith Murphy (R - SD16)
- Rep. John Potucek (R - Rock 13)
- Rep. Jared Sullivan (D - Graf 2)
- Rep. James Thibault (R - Merr 25)
Hearings and Sessions
- February 3, 2026, 10:15 AM: hearing, Senate Commerce, SH 100
- February 19, 2026: consent calendar, Senate
- April 8, 2026, 1:45 PM: public hearing, House Commerce and Consumer Affairs, GP 229
- April 21, 2026, 1:15 PM: subcommittee work session, House Commerce and Consumer Affairs, GP 229
- April 29, 2026, 10:00 AM: executive session, House Commerce and Consumer Affairs, GP 229
- May 14, 2026: consent calendar, House
Votes
- February 19, 2026, Senate: Ought to Pass — voice vote, passed
- May 14, 2026, House: Ought to Pass — voice vote, passed
The Docket
- January 7, 2026: Introduced 01/07/2026 and Referred to Commerce
- February 3, 2026: Hearing: 02/03/2026, Room 100, SH, 10:15 am
- February 19, 2026: Committee Report: Ought to Pass, 02/19/2026; Vote 5-0; CC
- February 19, 2026: Ought to Pass: MA, VV; OT3rdg; 02/19/2026
- February 19, 2026: Introduced (in recess of) 02/19/2026 and referred to Commerce and Consumer Affairs
- April 8, 2026: Public Hearing: 04/08/2026 01:45 pm GP 229
- April 21, 2026: Subcommittee Work Session: 04/21/2026 01:15 pm GP 229
- April 29, 2026: Executive Session: 04/29/2026 10:00 am GP 229
- April 29, 2026: Committee Report: Ought to Pass 04/29/2026 (Vote 15-0; CC)
- May 14, 2026: Ought to Pass: MA VV 05/14/2026
- June 4, 2026: Enrolled Adopted, VV, (In recess 06/04/2026)
- June 4, 2026: Enrolled (in recess of) 06/04/2026
- June 19, 2026: Signed by the Governor on 06/19/2026; Chapter 188; Effective 08/18/2026
Laws It Would Change
Related Bills
- SB 25 (2025): allowing credit union members to pay members of the board of directors for their services as a board member and relative to the use of and disputes over blockchain and digital currencies.