The bylaws of a
credit union shall specify at least the following:
| (1) |
the name of the credit union; |
Terms Used In Utah Code 7-9-12
- Credit union: means a cooperative, nonprofit association incorporated under:
| (b) | 12 U. See Utah Code 7-1-103- Field of membership: means persons designated as eligible for credit union membership in accordance with:
| (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. |
Amended by Chapter 327, 2003 General Session
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