Any seven residents of this state may apply to the state credit union board for permission to organize a corporate cooperative association to be known as a credit union.

Terms Used In North Dakota Code 6-06-01

  • board: when used in this title includes the state banking board and the state credit union board. See North Dakota Code 6-01-03
  • Credit union: means a cooperative, nonprofit association organized for the purposes of encouraging thrift among its members, creating a source of credit at a fair and reasonable rate of interest, and providing an opportunity for its members to improve their economic and social condition. See North Dakota Code 6-01-02
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49