485 – Entries in Books; Preservation of Records.
§ 485. Entries in books; preservation of records. 1. No credit union shall by any system of accounting or any device of bookkeeping, directly or indirectly, enter any of its assets or liabilities upon its books in the name of any person, or under any title or designation that is not truly descriptive thereof. 2. […]
486 – Conversion of a Federal Credit Union Into a State Credit Union.
§ 486. Conversion of a federal credit union into a state credit union. Any federal credit union having its place of business in this state may convert itself into a state credit union. A meeting of the shareholders shall be held upon not less than ten days’ written notice to each shareholder, either served personally […]
486-A – Retention of Special Additional Mortgage Recording Tax Exemption for Converted Federal Credit Unions.
§ 486-a. Retention of special additional mortgage recording tax exemption for converted federal credit unions. Mortgages made by a credit union that is issued an authorization certificate on or after January first, two thousand nine pursuant to section four hundred eighty-six of this article shall be exempt from the special additional mortgage tax imposed pursuant […]
487 – Conversion of a Credit Union Into a Federal Credit Union.
§ 487. Conversion of a credit union into a federal credit union. Any credit union may convert itself into a federal credit union. A meeting of the shareholders of the credit union shall be held upon not less than ten days’ written notice to each shareholder, either served personally or mailed to him or her […]
487-A – Conversion of a Credit Union Into a Mutual Savings Bank.
§ 487-a. Conversion of a credit union into a mutual savings bank. 1. Any credit union having its place of business in this state may convert to a mutual savings bank, subject to the requirements and procedures set forth in the laws and regulations governing mutual savings banks. 2. A proposal for a conversion described […]
478 – Amendment of Bylaws; Approval of Superintendent.
§ 478. Amendment of bylaws; approval of superintendent. 1. The bylaws of a credit union may be changed or amended by a vote of a majority of the total number of directors which a credit union would have if there were no vacancies present at any meeting; provided the proposed change or amendment shall have […]
479 – Credit Union Not Liable for Taxation.
§ 479. Credit union not liable for taxation. Any credit union subject to the provisions of this article shall be deemed an institution for savings within the meaning of the law which exempts such institutions from taxation. No law which taxes corporations in any form, or the shares thereof or the accumulations therein, shall apply […]
480 – Fiscal Year.
§ 480. Fiscal year. The fiscal year of every credit union shall end at the close of business on the thirty-first day of December.
481 – Communications From Department of Financial Services Must Be Submitted to Directors and Supervisory Committee, and Noted in the Minutes.
§ 481. Communications from department of financial services must be submitted to directors and supervisory committee, and noted in the minutes. Every official communication as defined in article two of this chapter directed to a credit union shall be submitted to both the board of directors and the supervisory committee at the next meeting of […]
482 – Reports to Superintendent; Penalty for Failure to Make.
§ 482. Reports to superintendent; penalty for failure to make. 1. Credit unions shall forward to the superintendent all reports required by the National Credit Union Administration. 2. Every credit union shall also make such other special reports to the superintendent at such times as he may require, which reports shall be in the form […]