17-2213 Shares to minors; joint tenancy shareholdings; trust accounts; credit union can act as trustee or custodian.
17-2213. Shares to minors; joint tenancy shareholdings; trust accounts; credit union can act as trustee or custodian. (a) Any credit union may receive money for the payment of shares from minors or in the name of minors and may pay the same to such minors whether or not the minors are emancipated until receiving a […]
17-2214 Corporate credit unions; powers; lending to members; credit unions lending to each other, approval.
17-2214. Corporate credit unions; powers; lending to members; credit unions lending to each other, approval. (a) Subject to rules and regulations prescribed by the administrator, corporate credit unions shall have the following additional powers to: (1) Provide access for its shareholders on a mutual basis to financial systems and the services and products of financial […]
17-2215 Power to borrow money; limitations.
17-2215. Power to borrow money; limitations. A credit union shall have the power to borrow from any source, subject to special orders of or in accordance with such rules and regulations as may be prescribed by the administrator, but the total of such borrowing shall at no time exceed 50% of the shares, undivided earnings […]
17-2215a Power of corporate credit unions to borrow increased by amount of certain investments.
17-2215a. Power of corporate credit unions to borrow increased by amount of certain investments. For a corporate credit union, the power to borrow shall be increased by the amount of investments of such credit union in government securities, and, further, the administrator may authorize borrowing in excess thereof. History: L. 1973, ch. 93, § 2; […]
17-2216 Loans to members; limitations.
17-2216. Loans to members; limitations. (a) Subject to rules and regulations of the administrator, a credit union may loan to its members, as provided, for such purposes and upon such security as the bylaws may provide and the credit committee, credit manager or duly authorized loan officer shall approve. Loans to members shall be made […]
17-2216a Loans to directors or members of credit or supervisory committees; conditions.
17-2216a. Loans to directors or members of credit or supervisory committees; conditions. Subject to rules and regulations of the administrator, a credit union may make loans to its directors, credit committee members and supervisory committee members or other members for which the director or committee member acts as guarantor or endorser who are not employees […]
17-2205 Credit unions, fields of membership. [See Revisor’s Note]
17-2205. Credit unions, fields of membership. [See Revisor’s Note] (a) (1) The membership shall consist of the organizers and such persons, societies, associations, copartnerships and corporations as have been duly elected to membership and have subscribed to one or more shares and have paid for the same, and have complied with such other requirements as […]
17-2217 Reserve income; payments into reserve fund; rules and regulations.
17-2217. Reserve income; payments into reserve fund; rules and regulations. All entrance fees, transfer fees and charges shall, after the payment of the organization expenses, be known as reserve income, and shall be added to the reserve fund of the credit union. At the close of the fiscal year or each dividend paying period there […]
17-2205a Membership of credit union; continuation of branch operations, limitations. [See Revisor’s Note]
17-2205a. Membership of credit union; continuation of branch operations, limitations. [See Revisor’s Note] (a) (1) The membership shall consist of the organizers and such persons, societies, associations, copartnerships and corporations as have been duly elected to membership and have subscribed to one or more shares and have paid for the same, and have complied with […]
17-2218 Dividends.
17-2218. Dividends. After providing for required reserves, the board of directors may declare a dividend to be paid from the net earnings or from other funds set aside for dividends at such intervals and in such a manner as the board of directors may authorize. History: L. 1929, ch. 141, § 18; L. 1959, ch. […]