26-2106. AMENDMENT TO ARTICLES OF INCORPORATION AND BYLAWS — APPROVAL OF DIRECTOR — PROCEDURE. (1) A credit union’s articles of incorporation and bylaws may be amended as provided in the articles of incorporation and bylaws with approval of the director. Amendments to the articles of incorporation or bylaws must be submitted to the director for approval before they are submitted to a vote by the members of the board. Amendments are deemed to be approved by the director if the director does not deny them within thirty (30) days following receipt of the proposed amendments. Amendments to a credit union’s articles of incorporation and bylaws must conform with section 26-2105, Idaho Code.
(2) Upon approval by the director and the members of the board, as required, the credit union shall promptly deliver amendments to the articles of incorporation, including any necessary filing fees, to the secretary of state for filing. Amendments to the articles of incorporation or bylaws are effective upon written certification of board approval to the director.
History:
[26-2106, added 2020, ch. 230, sec. 2, p. 671.]