Revises the state credit union act with regard to: (1) The definition of material violation of law;

(2) Filing fees;

(3) Discharging the duties of a director;

(4) Examination and investigation by a director;

(5) Exemptions under the public records act;

(6) Notice of charges and cease and desist orders;

(7) Administrative hearings;

(8) Conservatorships and receiverships;

(9) Liability for actions;

(10) False reports or other misrepresentations; and

(11) Authority of the department of financial institutions to assess civil fines.