Utah § 7-9-16 Members -- Eligibility -- Liability -- Grounds for closing account -- Denial of membership.

Utah Statutes

§ 7-9-16 — Members -- Eligibility -- Liability -- Grounds for closing account -- Denial of membership.

Utah § 7-9-16

Title 7Financial Institutions Act

Ch. 7-9Utah Credit Union Act

This text of Utah § 7-9-16 (Members -- Eligibility -- Liability -- Grounds for closing account -- Denial of membership.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 7-9-16 (2026).

Text

(1)A person within the field of membership of a credit union may be admitted to membership, upon:

(1)(a) payment of any required entrance or membership fee;

(1)(b) payment for one or more shares; and

(1)(c) compliance with this chapter and the bylaws of the credit union.

(2)A member who is eligible for membership in a credit union at the time the member is admitted as a member but who is no longer in the field of membership of the credit union may retain membership in the credit union unless otherwise provided in the bylaws of the credit union.

(3)A member of the credit union may not be held personally or individually liable for payment of the credit union's debts.

(4)The credit union may close the account of any member whose actions have resulted in any financial loss to the credit u

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(1) A person within the field of membership of a credit union may be admitted to membership, upon:

(1)(a) payment of any required entrance or membership fee;
(1)(b) payment for one or more shares; and
(1)(c) compliance with this chapter and the bylaws of the credit union.
(2) A member who is eligible for membership in a credit union at the time the member is admitted as a member but who is no longer in the field of membership of the credit union may retain membership in the credit union unless otherwise provided in the bylaws of the credit union.
(3) A member of the credit union may not be held personally or individually liable for payment of the credit union's debts.
(4) The credit union may close the account of any member whose actions have resulted in any financial loss to the credit union.
(5) Denial of membership is not considered a denial of credit.