The bylaws of a credit union shall specify at least the following:

(1) the name of the credit union;

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Terms Used In Utah Code 7-9-12

  • Credit union: means a cooperative, nonprofit association incorporated under:
         (6)(b) Utah Code 7-1-103
  • Field of membership: means persons designated as eligible for credit union membership in accordance with:
         (6)(a) Section 7-9-51 or 7-9-53; and
         (6)(b) the bylaws of the credit union. See Utah Code 7-9-3
  • Quorum: The number of legislators that must be present to do business.
(2) the purpose for which the credit union was formed;
(3) a field of membership of the credit union that complies with Section 7-9-51 or 7-9-53;
(4) the number of directors and procedures for their election;
(5) the term of directors;
(6) whether a credit manager, credit committee, or combination of both shall be responsible for credit functions of the credit union;
(7) the duties of the officers;
(8) the time of year of the annual meeting of members;
(9) the manner in which members shall be notified of meetings;
(10) the number of members which shall constitute a quorum at meetings;
(11) the manner of amending;
(12) the manner in which officers may act as surety; and
(13) such other matters, rules, and regulations as the board of directors consider necessary.