In addition to all other rights, powers and privileges, a credit union organized under the laws of this state whose accounts are insured by an insuring organization has all of the rights, powers and privileges and is entitled to the same exemptions and immunities as any credit union chartered under the laws of the United States.

Terms Used In Arizona Laws 6-517

  • Credit union: means a cooperative nonprofit association that is incorporated under this chapter for the purposes of encouraging thrift among its members and creating a source of credit and other financial services at fair and reasonable cost. See Arizona Laws 6-501
  • Insuring organization: means the national credit union administration or successor organization or any other equivalent insurer approved by the deputy director. See Arizona Laws 6-501
  • United States: includes the District of Columbia and the territories. See Arizona Laws 1-215

 

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