(a) A “share” is a term applied to each five dollars ($5.00), but not more than twenty-five dollars ($25.00), standing to the share account of a member. (b) The shares of stock of a credit union shall all be common shares of one (1) class and shall have a par value of five-dollar multiples of […]
(a) Shares may be issued in the name of a minor, if permitted by the articles of incorporation. These shares may be withdrawn by the minor, and payments made on the withdrawals shall be valid. (b) No minor under sixteen (16) years of age shall be entitled to vote in the meetings of the members […]
(a) Shares may be issued in the name of a member in trust for a beneficiary, including a minor, but no beneficiary, unless a member in his or her own right, may be permitted to vote, obtain loans, hold office, or be required to pay an entrance fee. (b) Payment of part or all of […]
A member may designate any person to hold shares and thrift club accounts with him or her in joint tenancy with the right of survivorship, but no joint tenant, unless a member in his or her own right, shall be permitted to vote, obtain loans, or hold office. Payment of part or all of the […]
