(1)  The articles of incorporation may be amended at meetings of the shareholders called for that purpose.

Terms Used In Utah Code 7-9-9

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
  • Credit union: means a cooperative, nonprofit association incorporated under:
(a) Chapter 9, Utah Credit Union Act; or
(b) 12 U. See Utah Code 7-1-103
(2)  A notice of a meeting called for that purpose shall be given by mailing a copy thereof to each member at least 10 days prior to the date of the meeting or by giving notice as provided by the articles of incorporation and the bylaws of the credit union. Notice of meetings shall contain the proposed amendment.

(3)  A three-fourths vote of all members present shall be necessary to amend the articles.

(4)  No amendment shall be made without the approval of the commissioner.

Enacted by Chapter 16, 1981 General Session

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