North Dakota § 6-06-07 Membership in credit union

North Dakota Statutes

§ 6-06-07 — Membership in credit union

North Dakota § 6-06-07

Title 6Banks and Banking

Ch. 6-06Credit Unions

This text of North Dakota § 6-06-07 (Membership in credit union) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 6-06-07 (2026).

Text

1.The membership of a credit union consists of the incorporators and such other persons as may be elected to membership. Each member shall subscribe to and pay the initial installment on at least one share in the credit union and pay the entrance fee as provided by the bylaws of the credit union. Organizations, incorporated or otherwise, composed principally of the same general group as the credit union membership may be members of the credit union.

2.Credit union membership is limited to groups having a common bond of occupation or association or to groups residing within a geographic area that does not extend beyond a seventy-five-mile [120.70-kilometer] radius of the home office of the credit union. Except as provided by this section, an office of a credit union that has a field of m

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1. The membership of a credit union consists of the incorporators and such other
persons as may be elected to membership. Each member shall subscribe to and pay
the initial installment on at least one share in the credit union and pay the entrance fee
as provided by the bylaws of the credit union. Organizations, incorporated or

otherwise, composed principally of the same general group as the credit union
membership may be members of the credit union.
2. Credit union membership is limited to groups having a common bond of occupation or
association or to groups residing within a geographic area that does not extend
beyond a seventy-five-mile [120.70-kilometer] radius of the home office of the credit
union. Except as provided by this section, an office of a credit union that has a field of
membership defined by geography may not be located more than seventy-five miles
[120.70 kilometers] from the credit union main office. The restrictions on location and
field of membership under this section do not apply to a credit union office location or
field of membership approved by the board before January 1, 2005. In the event of a
merger between credit unions with different geographic fields of membership, the
surviving credit union may expand the field of membership to include the geographic
field of membership of the merged credit union. After December 31, 2004, a credit
union may not establish and operate a new branch office that is outside the credit
union's field of membership. A branch office may not expand the geographic field of
membership of a credit union.
3. The board shall adopt a procedure through which all interested persons, including
banking institutions and credit unions, are afforded reasonable opportunity to submit
data, views, or arguments, orally or in writing; to obtain a hearing; and to intervene as
a party to a proceeding concerning a proposed application for a credit union to expand
the credit union's field of membership.