§31C-5-10. Suspension and Removal of Officials
(a) The supervisory committee by a two-thirds vote of the entire committee may suspend any member of the credit committee and shall report such action to the credit union's board of directors. The credit union's board of directors shall meet not less than seven nor more than twenty-one days after such suspension to take appropriate […]
§31C-5-5. Officers
(a) At their organization meeting held within thirty days following each annual election, the credit union's board of directors shall elect from their own number a chairman of the board, one or more vice chairmen, a treasurer and a secretary. The office of secretary and treasurer may, if the bylaws so provide, be held by […]
§31C-5-1. Authority and Responsibility of Directors
The credit union's board of directors shall have the authority and responsibility for directing the business affairs, funds and records of the credit union. In addition to the duties found elsewhere in this article, it shall be the special duty of the credit union's board of directors to: (a) Purchase adequate fidelity coverage for the […]
§31C-5-2. Election of Directors and Selection of Supervisory and Credit Committee Members
(a) The credit union's board shall consist of an odd number of directors, at least five in number, to be elected by and from the members. Elections shall be held at the annual meeting or in such other manner as the bylaws provide. All members of the credit union's board shall hold office for such […]
§31C-5-3. Record of Officials; and Filling Vacancies
(a) Within twenty days after each organization meeting, a record of the names and addresses of the members of the board and such other committees and officials, as required by the commissioner, shall be filed with the commissioner. (b) The credit union's board of directors shall fill any vacancies occurring in the board until successors […]
§31C-5-4. Compensation of Officials; and Conflicts of Interests
(a) No officer, director or committee member, other than an employee, may be compensated for services, except as provided in section one, article five of this chapter. However, providing reasonable life, health, accident and similar insurance protection shall not be considered compensation. Directors, officers and committee members may be reimbursed for necessary expenses incidental to […]
§31C-4-3. Membership Applications
The board of directors of the credit union shall act upon applications for membership or appoint one or more membership officers to approve applications for membership under such conditions as the board prescribes. A record of the actions taken by a membership officer shall be made available in writing to the board of directors for […]
§31C-4-4. Members Who Cease to Be Eligible
Members who cease to be eligible for membership may be permitted to retain their membership in the credit union, under reasonable standards established by the credit union's board of directors.
§31C-4-5. Liability and Expulsion of Members
(a) The members of the credit union shall not be personally or individually liable for the payment of its debts solely by virtue of holding membership. (b) Any member may be expelled by a two-thirds vote of its members present at any regular meeting or a special meeting called to consider the matter, but only […]
§31C-4-6. Meetings of Members
(a) The annual meeting and any special meetings of the members of the credit union shall be held in accordance with the bylaws. (b) At all such meetings a member shall have but one vote, irrespective of the member's shareholdings. No member may vote by proxy, but a member may vote by absentee ballot, mail […]