(a) It is unlawful for any person, corporation, copartnership, or association except a credit union subject to the provisions of this chapter or the Federal Credit Union Act to: (1) Use a name or title containing the words “credit union” or any derivation thereof; (2) Represent themselves in their advertising as a credit union; or […]
No credit union shall pay or receive any commission or compensation for securing members, for the sale of its shares, or for the granting of loans to its members or to other credit unions except for loan origination fees which are specifically provided for in § 23-35-603.
(a) (1) It is unlawful for any officer, director, committee member, agent, employee, or loan officer of a credit union to permit a loan to be made to a nonmember or to participate in a loan to a nonmember. (2) It is unlawful for any corporation, officer, director, member, committee member, agent, employee, or loan […]
(a) With the exception of the treasurer of the credit union whom the board of directors of the credit union has specifically appointed or contracted to actually work in the credit union, no director or member of a credit committee or supervisory committee may receive compensation for performing the duties or responsibilities of the board […]
