In order to simplify the organization of credit unions, the director shall cause to be prepared an approved form of articles of association and a suggested form of bylaws, consistent with the Credit Union Act, which may be used by credit union subscribers as a guide. Upon written application of any nine individuals residing in the state, the director shall supply such individuals, without charge, one approved form of the articles of association and one suggested form of bylaws.

Terms Used In Nebraska Statutes 21-1726

  • Credit union: shall mean a cooperative, nonprofit corporation organized under the Credit Union Act for purposes of educating and encouraging its members in the concept of thrift, creating a source of credit for provident and productive purposes, and carrying on such collateral activities as are set forth in the act. See Nebraska Statutes 21-1705
  • Director: shall mean the Director of Banking and Finance. See Nebraska Statutes 21-1707
  • Organization: shall mean any corporation, association, limited liability company, partnership, society, firm, syndicate, trust, or other legal entity. See Nebraska Statutes 21-1718
  • State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
  Previous section
Next section  
 Credit Union Act Contents