§31C-7-4. Applications
Except as provided for in section six, article seven of this chapter, every application for a loan shall be made in writing upon a form prescribed by the credit union and shall state the purpose of the loan as well as the security or collateral offered, if any. Each loan shall be evidenced by a […]
§31C-6-3. Deposit Accounts
(a) A credit union may accept deposit accounts from its members, other credit unions and governmental units subject to the terms, rates and conditions established by the board of directors. (b) Interest may be paid on deposit accounts at various rates with due regard to the conditions that pertain to each type of account such […]
§31C-6-4. Minor Accounts
Payments on share and deposit accounts may be received from a minor who may withdraw funds from such accounts including the dividends and interest thereon. Payments on share and deposit accounts by a minor and withdrawals thereof by the minor shall be valid in all respects. For such purposes a minor is deemed of full […]
§31C-5-11. Inspection of Books and Records by Members
(a) Each credit union shall keep at its principal office in this state a record of the names and addresses of its members entitled to vote. A credit union shall keep correct and complete books and records of account and shall keep minutes of the proceedings of its members, board of directors and committees having […]
§31C-6-1. Share Accounts and Membership Shares
(a) Share accounts and membership shares (if any) shall be subscribed to and paid for in such a manner as the bylaws prescribe. (b) A corporate credit union may require its members to subscribe to and make payments on membership shares. (c) The par value of shares and any membership shares shall be as prescribed […]
§31C-6-2. Dividends
(a) The credit union's board of directors shall establish the dividend period. Rates of dividends and the terms of payment may be established in advance by action of the board of directors. Dividends may be paid at various rates with due regard to the conditions that pertain to each type of account such as minimum […]
§31C-5-6. Executive Committee
The credit union's board of directors may appoint from its own number an executive committee, consisting of not less than three directors, which may be authorized to act for the board in all respects. These actions are subject to subsequent review by the full credit union's board of directors and any other conditions or limitations […]
§31C-5-7. Credit Committee and Loan Officers
(a) The credit committee shall have the general supervision of all loans to members. It may approve or disapprove loans, subject to written policies established by the board of directors. (b) The credit committee shall meet as often as the business of the credit union requires to consider applications for loans and/or review the work […]
§31C-5-8. Audits
(a) The supervisory committee shall make or cause to be made a comprehensive annual audit of the books and affairs of the credit union. It shall submit a report of each annual audit to the credit union's board of directors and a summary of that report to the members at the next annual meeting of […]
§31C-5-9. Fidelity Bonds, Required Oaths and Hazard Insurance
(a) As a condition precedent to qualification or entry upon the discharge of their duties, all active officers, as well as every person appointed or elected to any position requiring the receipt, payment or custody of money or other personal property owned by a credit union or in its custody or control as collateral or […]