21-1780. Fees related to member accounts.

130 words·~1 min read·/ne/chapter-21/21-1780

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)A credit union may collect reasonable fees and charges with respect to member accounts. The fees may be for:

(a)Additional copies of periodic statements;

(b)Various types of transactions on a per-transaction basis;

(c)A check or draft returned to the credit union by another financial institution because it was drawn against a closed account or an account with insufficient funds or for any other reason;

(d)Stop-payment orders;

(e)Any form of members' initiated withdrawal requests which the credit union rejects for any justifiable reason; and

(f)Any other service or activity relating to member share accounts.

(2)No credit union shall impose or increase any fee after October 1, 1996, until thirty calendar days after notification has been provided or made available to credit union members.