Sec. 06.45.290. Branch offices.
A credit union may establish a branch office under regulations of the commissioner.
Sec. 06.45.295. Automated teller machines.
(a) A state credit union may establish, maintain, and operate an automated teller machine on the premises of the main office or a branch office of the state credit union. (b) A state credit union may establish, maintain, and operate an automated teller machine at a location other than credit union premises by notifying the […]
Sec. 06.45.300. Unauthorized conduct of credit union business.
It is a class A misdemeanor for a natural person to conduct business under a name or title that contains the words “credit union” or a derivation of them or to represent to be conducting business as a credit union.
Sec. 06.45.310. Transfer of credit union’s property to preferred creditor is void.
The transfer of property, money, or assets by a credit union after it becomes insolvent, to prefer one creditor over another, or to prevent the equal distribution of its property and assets among its creditors is void.
Sec. 06.45.010. Responsibility of commissioner.
(a) The commissioner shall administer this chapter. (b) The commissioner may by regulation define the powers of credit unions formed under this chapter and adopt regulations to carry out the purposes of credit unions consistent with this chapter and AS 06.01.020. (c) The commissioner may delegate any authority, power, or function granted by this chapter. […]
Sec. 06.45.170. Powers and duties of supervisory committee; suspension of committee members.
(a) The supervisory committee shall conduct an annual audit of the accounts of the credit union and submit a report of the audit to the board of directors and a summary of the audit to the members at the next annual members meeting of the credit union. The supervisory committee may conduct supplementary audits as […]
Sec. 06.45.020. Formation of credit union.
(a) Seven or more natural persons who desire to form a credit union shall subscribe before an officer competent to administer oaths, articles of incorporation in duplicate that must state (1) the name of the credit union; (2) the location of the credit union and the territory in which it will operate; (3) the names […]
Sec. 06.45.180. Reserves.
(a) At the end of each accounting period the gross income of the credit union shall be determined. From this amount, there shall be set aside as a regular reserve against losses on loans and against other losses specified in regulations adopted by the commissioner under this chapter sums in accordance with the following schedule: […]
Sec. 06.45.030. Approval of articles of incorporation and issuance of certificate of authority.
(a) The articles of incorporation shall be presented to the commissioner for approval. Before the certificate of authority is issued, the commissioner shall determine (1) whether the articles of incorporation and bylaws conform to the provisions of this chapter and to regulations of the commissioner; (2) the general character and fitness of the subscribers; and […]
Sec. 06.45.190. Dividends.
At intervals as the board of directors may authorize and after provision for required reserves, the board of directors may declare, under regulations adopted by the commissioner, a dividend to be paid at different rates on different types of shares and at different rates and maturity dates in the case of share certificates. Dividend credit […]