Title 7 Financial Institutions Act Chapter 9 Utah Credit Union Act Section 43 Board of Credit Union Advisors.
7-9-43.Board of Credit Union Advisors.
There is created a Board of Credit Union Advisors of five members to be appointed by the
governor.
(1) Members of the board shall be individuals who are familiar with and associated in the
field of credit unions.
(2) At least three of the members shall be persons who have had three or more years of
experience as a credit union officer and shall be selected from a list submitted to the governor by
the Utah League of Credit Unions.
(3) The board shall meet quarterly.
(4) A chair of the advisory board shall be chosen each year from the membership of the
advisory board by a majority of the members present at the board's first meeting each year.
(5) (a) Except as required by Subsection (b), as terms of current board members expire,
the governor shall appoint each new member or reappointed member to a four-year term.
(b) Notwithstanding the requirements of Subsection (a), the governor shall, at the time of
appointment or reappointment, adjust the length of terms to ensure that the terms of board
members are staggered so that approximately half of the board is appointed every two years.
(6) When a vacancy occurs in the membership for any reason, the replacement shall be
appointed for the unexpired term.
(7) All members shall serve until their successors are appointed and qualified.
(8) (a) Members shall receive no compensation or benefits for their services, but may
receive per diem and expenses incurred in the performance of the member's official duties at the
rates established by the Division of Finance under Sections 63A-3-106 and 63A-3-107.
(b) Members may decline to receive per diem and expenses for their service.
(9) Meetings of the advisory board shall be held on the call of the chair. A majority of
the members of the board shall constitute a quorum.
(10) The Board of Credit Union Advisors has the duty to advise the governor and
commissioner on problems relating to credit unions and to foster the interest and cooperation of
credit unions in the improvement of their services to the people of the state of Utah.
Amended by Chapter 243, 1996 General Session
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