§ 6-06-16 — Entrance fee - Capital - Lien on shares - Assessment on shares

A credit union may charge such entrance fee as may be provided by its bylaws. Its capital
consists of the entrance fees paid in and the payments made to it by the several members on
shares therein. The credit union has a lien on the shares and deposits of a member for any sum
due to the credit union from that member or for the amount due on any loan endorsed by that
member. A credit union that is a member of the North Dakota credit union league may, by
resolution adopted with a quorum present at a regular or special meeting of the board of
directors of the credit union, annually assess against the share accounts of all members of the
credit union an amount equal to the whole or proportionate part of the annual membership fee
payable to the North Dakota credit union league.