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

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Updated: 11 January 2012

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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 1 November 2011.