657.023 – Membership.
657.023 Membership.— (1) Upon payment of any required entrance or membership fee, payment of shares as required by the bylaws, and compliance with the bylaws, any person within the limited field of membership of a credit union may be admitted to its membership. (2) Members of the credit union shall not be personally or individually liable for payment […]
657.024 – Membership Meetings.
657.024 Membership meetings.— (1) The members shall receive timely notice of the annual meeting and any special meetings of the members, which shall be held at the time, place, and in the manner provided in the bylaws. (2) Each member shall have one vote. Ballots may be distributed in advance to the entire membership as prescribed in the […]
657.026 – Supervisory or Audit Committee.
657.026 Supervisory or audit committee.— (1) There shall be a supervisory or audit committee of at least three members, which may be elected by the membership or appointed by the board, or the board may appoint an audit committee of directors in the manner prescribed in the bylaws. An officer or employee may not serve on the […]
657.0265 – Liability of Credit Union Directors, Supervisory Committee Members, or Audit Committee Members.
657.0265 Liability of credit union directors, supervisory committee members, or audit committee members.— (1) A director of a credit union organized under state or federal law, or a member of the supervisory or audit committee of such credit union, is not personally liable for monetary damages to the credit union, its members, or any other persons for […]
657.027 – Credit Committee and Credit Manager.
657.027 Credit committee and credit manager.— (1) The board of directors may appoint or the members may elect, as provided in the bylaws, a credit committee composed of at least three members, for such terms as the bylaws provide. (a) The credit committee shall have the general supervision of all applications for credit by members, pursuant to written […]
657.001 – Short Title.
657.001 Short title.—This chapter may be cited as the “Florida Credit Union Act.” History.—ss. 1, 6, ch. 80-258; ss. 2, 3, ch. 81-318; s. 1, ch. 91-307; s. 1, ch. 92-303; s. 141, ch. 2004-5.
657.002 – Definitions.
657.002 Definitions.—As used in this chapter: (1) “Capital” means shares, deposits, and equity. (2) “Corporate credit union” means any credit union organized pursuant to any state or federal act for the purpose of serving other credit unions. (3) “Correspondent” means that person designated on an application to organize a credit union as the person to whom all correspondence regarding […]
657.003 – Purposes.
657.003 Purposes.—A credit union is a cooperative, nonprofit association, organized under this chapter, for the purposes of encouraging thrift among its members, creating sources of credit at fair and reasonable rates of interest, and providing an opportunity for its members to use and control their resources on a democratic basis in order to improve their economic […]