Utah Code -- Title 07 -- Chapter 09 -- Utah Credit Union Act

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Updated: 28 May 2009

7-9-1    Title.

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7-9-2    Description of credit unions.

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7-9-3    Definitions.

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7-9-5    Powers of credit unions.

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7-9-6    Formation of corporation to conduct credit union -- Approval of commissioner.

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7-9-7    Forms furnished by commissioner.

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7-9-9    Amendment of articles of incorporation.

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7-9-10    Filing amendment.

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7-9-11    Bylaws and amendments to be approved.

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7-9-12    Contents of bylaws.

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7-9-13    Fiscal year.

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7-9-14    Meetings.

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7-9-15    Appeals from board of directors or committees.

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7-9-16    Members -- Eligibility -- Liability -- Grounds for closing account -- Denial of membership.

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7-9-17    Membership officer -- Appointment -- Eligibility -- Function -- Appeals from.

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7-9-18    Expulsion of member.

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7-9-19    Payments to expelled members -- Liability of member not relieved by expulsion.

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7-9-20    Board of directors -- Powers and duties -- Loan limitations.

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7-9-21    Executive officers -- Election -- Power -- Terms.

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7-9-22    Credit committee -- Credit manager.

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7-9-23    Supervisory committee -- Duties -- Suspension or removal of officer, director, or credit committee member.

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7-9-24    Compensation of directors, committee members, and president -- Expense reimbursement.

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7-9-25    Shares -- Number unlimited -- Subscription and payment -- Par value -- Ownership required for membership -- Dormant accounts.

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7-9-26    Loans to members -- Investment officers -- Investments.

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7-9-27    Dividends -- Interest refunds.

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7-9-28    Loan to credit union official.

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7-9-29    Allowance account for loan losses.

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7-9-30    Reserve requirements -- "Risk assets" defined.

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7-9-31    Shares held in trust.

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7-9-32    Joint accounts -- Accounts providing for payment to designated person on death of owner or owners.

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7-9-33    Lien and right of set off of credit union.

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7-9-34    Tax exemption of credit unions.

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7-9-36    Dissolution.

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7-9-37    Transfer of members of dissolved, merged, consolidated, transferred, or acquired credit union.

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7-9-39    Voluntary merger.

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7-9-39.5    Supervisory merger.

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7-9-42    Record requirements.

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7-9-43    Board of Credit Union Advisors.

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7-9-44    Corporate central credit union.

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7-9-45    Insurance of shares and deposits -- Security on shares and deposits.

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7-9-46    Out-of-state credit unions -- Authorization to do business in state -- Supervision -- Examination.

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7-9-48    Disclosure of share and deposit insurance -- Disclosure if secured through securities.

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7-9-49    Limitation of personal liability of directors and committee members.

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7-9-50    General limitation on liability.

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7-9-51    Field of membership.

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7-9-52    Expansion of a field of membership.

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7-9-53    Grandfathering.

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7-9-55    Nonexempt credit unions.

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7-9-58     Limitations on credit extended by nonexempt credit unions.

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7-9-59    Credit union service organizations -- Limitations on providing services through other entities.

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means this portion of the Utah Code has been modified since the last update on 6 May 2009.

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Last revised: 28 May 2009

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