Utah Statutes
§ 7-9-11 — Bylaws and amendments to be approved.
(1)A credit union may not receive payments on shares, deposits, or certificates, or make any loans or other transactions, until its bylaws have been approved in writing by the commissioner.
(2)An amendment to a credit union's bylaws does not become operative until the amendment to the bylaws is approved by the commissioner.
(3)(3)(a) If the amendment to the bylaws of a credit union expands the field of membership of a credit union as described in Subsection 7-9-52(1), the commissioner's approval of the amendment is subject to Section 7-9-52.
(3)(b) If the bylaws or an amendment to the bylaws of a credit union adds an association to the field of membership of the credit union, the commissioner may require that the credit union provide written confirmation from the association that the as
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Related
Utah Bankers Ass'n v. Utah Department of Financial Institutions
888 P.2d 714 (Court of Appeals of Utah, 1994)
Legislative History
Amended by Chapter 327, 2003 General Session
Nearby Sections
15
§ 7-1-1001
Definitions -- Written consent or court order for disclosure by financial institution -- Exception.§ 7-1-1005
Admissibility of information restricted.§ 7-1-1007
Liability of financial institutions.§ 7-1-101
Title.§ 7-1-103
Definitions.§ 7-1-103.5
Control.