BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
CREDIT UNION ACT
Corporate Credit Union
(a) Membership in the corporate credit union shall consist of and be limited to the subscribers to the articles of incorporation, credit unions organized under this chapter, credit unions organized under the Federal Credit Union Act or under any other credit union act, organizations or associations of credit unions, and such other persons or organizations provided for in the articles of incorporation.
(b) The board of directors of each credit union, organization or association becoming a member of the corporate credit union shall designate one person to be a voting representative in the corporate credit union. The voting representative shall be eligible to hold office in the corporate credit union as if the person were himself or herself a member of the corporate credit union.
Source. 2015, 272:16, eff. Oct. 1, 2015.