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 […]
483 – Penalty for Loans to Non-Members; Recovery.
§ 483. Penalty for loans to non-members; recovery. Any officer, director or member of a committee of a credit union who knowingly permits a loan to be made or participates in a loan to a non-member of the corporation shall be guilty of a misdemeanor and shall be primarily liable to the corporation for the […]
484 – Penality for Use of Term “Credit Union”.
§ 484. Penalty for use of term “credit union”. The use by any person, partnership, association or corporation, other than those authorized as provided in this article, or by any federal law, and other than any statewide association of credit unions operating in this state, of any name or title which contains the two words […]
475 – Supervisory Committee; Powers and Duties.
§ 475. Supervisory committee; powers and duties. 1. The supervisory committee shall have power: (a) To suspend at any time by unanimous vote, at a meeting called for that purpose, any member of the credit committee or any member of the board of directors or any officer. (b) By a majority vote to call a […]
465 – Withdrawal of Shares After Voting to Liquidate; Notices to Shareholders.
§ 465. Withdrawal of shares after voting to liquidate; notices to shareholders. After the shareholders of a credit union have duly voted that the credit union be closed and such business wound up and voluntarily liquidated, and prior to the entry of an order of the supreme court declaring the business of such credit union […]
466 – Meetings of Shareholders; Voting.
§ 466. Meetings of shareholders; voting. 1. At all meetings of shareholders of every credit union each shareholder shall have one vote irrespective of the number of shares which he holds; provided, however, after a credit union has been in existence for a period of more than one year, only a person who shall have […]
467 – Qualifications and Disqualifications of Directors and Committee Members.
§ 467. Qualifications and disqualifications of directors and committee members. Every director and committee member of a credit union shall be the owner of at least one share subscribed for by him or standing in his name on the books of the credit union; and every person elected to be a director or committee member, […]
468 – Oaths of Directors; Officers and Members of Committees.
§ 468. Oaths of directors, officers and members of committees. Each director, officer and member of a committee when first appointed or elected, shall take an oath that he will, so far as the duty devolves upon him, diligently and honestly administer the affairs of the credit union, and will not knowingly violate, or willingly […]
469 – Vacancies; Change in Number of Directors.
§ 469. Vacancies; change in number of directors. 1. Vacancies in the board of directors, supervisory committee, or the credit committee, occasioned by resignations, deaths or other causes shall be reported by each credit union to the superintendent within ten days after the event; and the credit union shall likewise report the filling of each […]