Rhode Island § 19-5-4 § 19-5-4. Contents of bylaws.

Rhode Island Statutes

§ 19-5-4 — § 19-5-4. Contents of bylaws.

Rhode Island·Title 19 Financial institutions·Ch. 19-5 Credit Unions

§ 19-5-4. Contents of bylaws.
(a) The director, or the director's designee, shall promulgate regulations that prescribe
            the form and content of the credit union's bylaws that shall, if not contrary to state
            law, reflect the guidelines of the federal credit union model bylaws and amendment
            provisions.
         
(b) No credit union seeking formation shall operate until the time the director, or the
            director's designee, has approved the bylaws. Amendments to the bylaws shall not be
            operative until approved by the director, or the director's designee. Any credit union
            aggrieved by the decision of the director

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§ 19-5-4. Contents of bylaws.

(a) The director, or the director's designee, shall promulgate regulations that prescribe the form and content of the credit union's bylaws that shall, if not contrary to state law, reflect the guidelines of the federal credit union model bylaws and amendment provisions.

(b) No credit union seeking formation shall operate until the time the director, or the director's designee, has approved the bylaws. Amendments to the bylaws shall not be operative until approved by the director, or the director's designee. Any credit union aggrieved by the decision of the director, or the director's designee, shall have the right to appeal pursuant to chapter 35 of title 42.

Rhode Island § 19-5-4 (§ 19-5-4. Contents of bylaws.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.