Section 490.331 – Voluntary or Involuntary Dissolution.
490.331 Voluntary or involuntary dissolution. Sec. 331. (1) A domestic credit union may voluntarily dissolve under subsection (2) or be involuntarily dissolved under subsection (3). (2) A domestic credit union may voluntarily dissolve if all of the following are met: (a) At least 30 days before the vote described in subdivision (b), the credit union […]
Section 490.341 – Organizational Meeting; Annual Meeting; Membership; Committees; Qualifications; Notice of Meeting; Removal; Vacancy.
490.341 Organizational meeting; annual meeting; membership; committees; qualifications; notice of meeting; removal; vacancy. Sec. 341. (1) The organizers shall hold an organizational meeting of a domestic credit union organized under this act. The organizational meeting of the domestic credit union is the first annual meeting of the members required under section 351. (2) Each board […]
Section 490.342 – Credit Union Board; Election of Officers; General Management; Duties; Delegation to General Manager or Chief Executive Officer of Domestic Credit Union; Compensation; Removal of Board Member or Committee Member With Delinquent Loan; Meetings; Associate Board Members; Quorum; Action Taken Without Meeting; Consent; Oath.
490.342 Credit union board; election of officers; general management; duties; delegation to general manager or chief executive officer of domestic credit union; compensation; removal of board member or committee member with delinquent loan; meetings; associate board members; quorum; action taken without meeting; consent; oath. Sec. 342. (1) At its first meeting, the credit union board […]
Section 490.343 – Suspension or Removal of Members; Majority of Remaining Members as Quorum; Appointment of Temporary Members.
490.343 Suspension or removal of members; majority of remaining members as quorum; appointment of temporary members. Sec. 343. If 1 or more directors of a domestic credit union board are suspended or removed under this act, a majority of the remaining members of the board, including any replacement directors, constitute a quorum of the credit […]
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