A. Credit union membership shall consist of the incorporators, and such other persons and incorporated and unincorporated organizations and their employees, as may be elected to membership. Each member shall subscribe to at least one share of the credit union’s stock and pay the entrance fee. Credit union membership shall be limited to groups having a common bond of occupation or association, which shall be limited to one of the following categories:
1. Groups that have the same common bond of occupation or association;
2. Persons or organizations within a well-defined community, neighborhood or rural district; or
3. Groups which have, as to each individual group, a common bond of occupation or association, but, as to all such groups, need not have the same common bond of occupation or association as other groups within the credit union.
B. A central credit union may be organized to which members of existing credit unions operating in accordance with the law of the State of Oklahoma, or of the United States, may belong, and to which credit unions organized and operating under the State of Oklahoma or of the United States may also belong.
Added by Laws 1941, p. 13, § 7. Amended by Laws 1974, c. 267, § 4. Amended by Laws 2000, c. 77, § 3, emerg. eff. April 14, 2000.
NOTE: Laws 1974, c. 66, § 2 repealed by Laws 1974, c. 267, § 12.
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