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U.S. State Codes
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Utah
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Title 7 - Financial Institu...
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Chapter 9 - Utah Credit Union Act
Chapter 9 - Utah Credit Union Act
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.