Section 490.303 – Amendment to Certificate of Organization or Bylaws.
490.303 Amendment to certificate of organization or bylaws. Sec. 303. (1) If approved by a majority of the members present at a duly constituted annual or special meeting of the members, the membership may amend the certificate of organization or bylaws of a domestic credit union or delegate authority to the credit union board, or […]
Section 490.304 – Principal Place of Business; Notice of Change in Location; Establishment and Maintenance of Branches; Service Centers; Assumed Names.
490.304 Principal place of business; notice of change in location; establishment and maintenance of branches; service centers; assumed names. Sec. 304. (1) If a domestic credit union changes the location of its principal place of business in this state, the domestic credit union must provide the director with written notice at least 7 days before […]
Section 490.305 – Books and Records; Availability; Court Order.
490.305 Books and records; availability; court order. Sec. 305. (1) A domestic credit union shall maintain its books and records at its principal place of business filed with the director under section 304 and make the books and records available for examination by the director or his or her authorized agent, except as follows: (a) […]
Section 490.306 – Conducting Business by Mail or Electronic Communication.
490.306 Conducting business by mail or electronic communication. Sec. 306. With prior written notice to the director, a domestic credit union may conduct its business solely by mail or through electronic communication without having a physical location where members may transact business with the credit union. A domestic credit union conducting business under this section […]
Section 490.307 – Repealed. 2005, Act 194, Imd. Eff. Nov. 7, 2005.
490.307 Repealed. 2005, Act 194, Imd. Eff. Nov. 7, 2005. Compiler’s Notes: The repealed section pertained to filing of a supicious activity report by a domestic credit union with a federal agency.
Section 490.301 – Domestic Credit Union; Membership; Organization; Approval by Commissioner; Notice; Disapproval; Request to Reconsider; Hearing; Appeal; Retention by Commissioner of Original Certificate of Organization and Bylaws; Delivery; Form.
490.301 Domestic credit union; membership; organization; approval by commissioner; notice; disapproval; request to reconsider; hearing; appeal; retention by commissioner of original certificate of organization and bylaws; delivery; form. Sec. 301. (1) Seven individuals, a majority of whom are residents of this state and all of whom are within the proposed field of membership of the […]
Section 490.302 – Organization of Credit Union by 2 or More Credit Unions.
490.302 Organization of credit union by 2 or more credit unions. Sec. 302. Two or more credit unions may file an application to organize a corporate credit union under this act. History: 2003, Act 215, Eff. June 1, 2004 ;– Am. 2004, Act 471, Imd. Eff. Dec. 28, 2004