Utah Credit Union Act

  1. Law
  2. Utah Code
  3. Financial Institutions Act
  4. Utah Credit Union Act

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Section
1

Title.

Section
2

Description of credit unions.

Section
3

Definitions.

Section
5

Powers of credit unions.

Section
6

Formation of corporation to conduct credit union -- Approval of commissioner.

Section
7

Forms furnished by commissioner.

Section
9

Amendment of articles of incorporation.

Section
10

Filing amendment.

Section
11

Bylaws and amendments to be approved.

Section
12

Contents of bylaws.

Section
13

Fiscal year.

Section
14

Meetings.

Section
15

Appeals from board of directors or committees.

Section
16

Members -- Eligibility -- Liability -- Grounds for closing account -- Denial of membership.

Section
17

Membership officer -- Appointment -- Eligibility -- Function -- Appeals from.

Section
18

Expulsion of member.

Section
19

Payments to expelled members -- Liability of member not relieved by expulsion.

Section
20

Board of directors -- Powers and duties -- Loan limitations.

Section
21

Executive officers -- Election -- Power -- Terms.

Section
22

Credit committee -- Credit manager.

Section
23

Supervisory committee -- Duties -- Suspension or removal of officer, director, or credit committee member.

Section
24

Compensation of directors, committee members, and president -- Expense reimbursement.

Section
25

Shares -- Number unlimited -- Subscription and payment -- Par value -- Ownership required for membership -- Dormant accounts.

Section
26

Loans to members -- Investment officers -- Investments.

Section
27

Dividends -- Interest refunds.

Section
28

Loan to credit union official.

Section
29

Allowance account for loan losses.

Section
30

Reserve requirements -- "Risk assets" defined.

Section
31

Shares held in trust.

Section
32

Joint accounts -- Accounts providing for payment to designated person on death of owner or owners.

Section
33

Lien and right of set off of credit union.

Section
34

Tax exemption of credit unions.

Section
36

Dissolution.

Section
37

Transfer of members of dissolved, merged, consolidated, transferred, or acquired credit union.

Section
39

Voluntary merger.

Section
39.5

Supervisory merger.

Section
42

Record requirements.

Section
43

Board of Credit Union Advisors.

Section
44

Corporate central credit union.

Section
45

Insurance of shares and deposits -- Security on shares and deposits.

Section
46

Out-of-state credit unions -- Authorization to do business in state -- Supervision -- Examination.

Section
48

Disclosure of share and deposit insurance -- Disclosure if secured through securities.

Section
49

Limitation of personal liability of directors and committee members.

Section
50

General limitation on liability.

Section
51

Field of membership.

Section
52

Expansion of a field of membership.

Section
53

Grandfathering.

Section
55

Nonexempt credit unions.

Section
58

Limitations on credit extended by nonexempt credit unions.

Section
59

Credit union service organizations -- Limitations on providing services through other entities.