§31C-11-9. Fees
Corporate credit unions shall pay the assessment and fees set for credit unions under this code to defray the costs to the commissioner and board for their supervision, examination and administration. The assessments and operating fees established by the commissioner or Legislature may make allowances for the special purposes and operations of the corporate credit […]
§31C-10-3. Conversion
(a) A credit union incorporated under the laws of this state may be converted to a credit union organized under the laws of any other state or under the laws of the United States by complying with the following requirements: (1) The proposition for the conversion shall first be approved and a date set for […]
§31C-11-1. Incorporation
A corporate credit union may be incorporated under this article. All parts of this chapter not inconsistent with this article shall apply to it.
§31C-11-2. Purposes
The purposes of the corporate credit union are to: (a) Accumulate and prudently manage the liquidity of its member credit unions through interlending and investment services; (b) Act as an intermediary for credit union funds between members and other corporate credit unions; (c) Obtain liquid funds from other credit union organizations, financial intermediaries and other […]
§31C-11-3. Membership
(a) Membership in the corporate credit union shall consist of and be limited to the credit union subscribers to the articles of incorporation, credit unions incorporated under this chapter, the Federal Credit Union Act or any other credit union act, organizations or associations of credit unions, and such other organizations provided for in the articles […]
§31C-11-4. Organization
(a) Application to form a corporate credit union shall be made in writing to the commissioner. The application shall contain the names of at least ten percent of the credit unions in the proposed field of membership, but in no case less than fifty credit unions that have agreed to subscribe to shares in the […]
§31C-9-1. Investment and Deposit of Funds
(a) The credit union's board of directors shall have charge of the investment of funds, except that they may designate an investment committee or investment officer to make investments in its behalf, under written investment policies established by the credit union's board. (b) The credit union's board of directors shall designate a depository or depositories […]
§31C-9-2. Authorized Investments
Funds not used in loans to members may be invested: (a) In securities, obligations or other instruments of or issued by or fully guaranteed as to principal and interest by the United States of America or any agency or instrumentality thereof or in any trust or trusts established for investing directly or collectively in the […]
§31C-9-3. Reserve Funds
(a) At the end of each accounting period the credit union shall determine its gross income and from this amount shall set aside and transfer funds to a regular reserve. The credit union shall transfer to the reserve amounts as required under a schedule set by the national credit union administration (NCUA) or its successor. […]
§31C-10-1. Voluntary Liquidation
(a) A credit union may elect to dissolve voluntarily and liquidate its affairs in the manner prescribed in this section. (b) If it decides to begin the procedure, the board of directors shall adopt a resolution recommending the credit union be dissolved voluntarily, and directing that the question of liquidation be submitted to the members. […]