§6-2010. Board of directors – Credit committee or credit manager – Supervisory committee – Officers.
A. 1. The business affairs of a credit union shall be managed by a board of not less than seven (7) members, elected by the members of the credit union, from their number, at their annual meeting, the organizational meeting being the first annual meeting, and to hold office for such terms as the bylaws […]
§6-2012. Expulsions and withdrawals.
(A) A member may be expelled by a two-thirds (2/3) vote of the members present at the annual or a special meeting called to consider the matter, but only after an opportunity has been given to the member to be heard at said meeting. Any member may withdraw from the credit union at any time […]
§6-2013. Dividends.
As the bylaws may provide and, pursuant to such regulations as may be issued by the Oklahoma State Credit Union Board, the board of directors of a credit union may declare a dividend to be paid at different rates on different types of accounts from any available balances in undivided earnings. If undivided earnings are […]
§6-2001. Definitions.
As used in this chapter: 1. “Credit union” means a cooperative nonprofit society incorporated for the purpose of promoting thrift among its members, and creating a source of credit for them at legitimate rates of interest for provident or productive purposes; and 2. “Paid-in and unimpaired capital and surplus” means, the balance of all paid-in […]
§6-2014. Shares and deposits in name of minors – Shares not subject to stock transfer tax.
When any shares shall be purchased by or deposits made in the name of any minor, the same shall be held for the exclusive right and benefit of such minor, and free from the control or lien of all other persons, except creditors, and shall be paid, together with dividends or interest thereof, if any, […]
§6-2001.1. Oklahoma State Credit Union Board – Creation.
A. There is hereby created the Oklahoma State Credit Union Board, which shall consist of five (5) members appointed by the Governor. The State Bank Commissioner shall be one of the members, and he shall preside as Chairman of the State Credit Union Board. One of the other four members shall be a member of […]
§6-2015. Partial invalidity – Right of alteration, amendment or repeal.
(A) If any provision of this act, or the application thereof to any person or circumstance, is held invalid, the remainder of the act, and the application of such provisions to other persons or circumstances, shall not be affected thereby. (B) The right to alter, amend, or repeal this act or any part thereof, or […]
§6-2001.2. Powers of Board – Administrator – Powers and duties – Failure to comply with Commissioner’s orders or requirements.
A. In addition to any other powers conferred by law, the State Credit Union Board shall have the power to: 1. Regulate its own procedures and practice, except as may be hereafter provided by law; 2. Define any term not defined in Oklahoma Laws relating to credit unions; 3. Adopt and promulgate reasonable and uniform […]
§6-2016. Credit unions composed of public employees, retirees and family members – Space in public buildings.
Credit unions composed exclusively of state, county, city and school district employees and retirees and members of their families may be allotted space in public buildings as space is available, without charge for rent or services. Added by Laws 1941, p. 16, § 16, emerg. eff. June 4, 1941. Amended by Laws 2005, c. 209, […]
§6-2001.3. Meetings of Board – Quorum.
The State Credit Union Board may meet as often as necessary to carry out its duties, but it shall not fail to meet at least once in any calendar year. The Bank Commissioner may call additional meetings of the State Credit Union Board upon at least twenty-four (24) hours’ notice and shall do so upon […]