(a) Membership in the corporate credit union may consist of Vermont-chartered credit unions, any other state-chartered credit union, any federally chartered credit union, organizations or associations of credit unions, and such other organizations provided for in the articles of incorporation.

(b) A member of the corporate credit union shall designate one person to be its authorized representative to attend meetings of the corporate credit union and to vote on behalf of the member. A credit union member of the corporate credit union may only designate a member of its own credit union as its authorized representative. No person may serve as the authorized representative of more than one member of the corporate credit union. (Added 2005, No. 16, § 1, eff. July 1, 2005.)