§ 1754. Approval of organization certificate
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/usc/title-12/section-1754A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The organization certificate shall be presented to the Board for approval. Before any organization certificate is approved, an appropriate investigation shall be made for the purpose of determining
(1)whether the organization certificate conforms to the provisions of this chapter;
(2)the general character and fitness of the subscribers thereto; and
(3)the economic advisability of establishing the proposed Federal credit union. Upon approval of such organization certificate by the Board it shall be the charter of the corporation, and one of the originals thereof shall be delivered to the corporation after the payment of the fee required therefor. Upon such approval the Federal credit union shall be a body corporate and as such, subject to the limitations herein contained, shall be vested with all of the powers and charged with all of the liabilities conferred and imposed by this chapter upon corporations organized hereunder.
(June 26, 1934, ch. 750, title I, § 104, formerly § 4, 48 Stat. 1217; 1947 Reorg. Plan No. 1, § 401, eff. July 1, 1947, 12 F.R. 4534, 61 Stat. 952; June 29, 1948, ch. 711, §§ 1, 2, 62 Stat. 1091; renumbered § 5 and amended Pub. L. 86–354, § 1, Sept. 22, 1959, 73 Stat. 629; Pub. L. 91–206, § 2(1), Mar. 10, 1970, 84 Stat. 49; renumbered title I, § 104, Pub. L. 91–468, § 1(2), Oct. 19, 1970, 84 Stat. 994; amended Pub. L. 95–630, title V, § 502(b), Nov. 10, 1978, 92 Stat. 3681.)
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- June 26, 1934, ch. 750
- 48 Stat. 1217
- 61 Stat. 952
- June 29, 1948, ch. 711
- 62 Stat. 1091
- Pub. L. 86–354, § 1
- 73 Stat. 629
- Pub. L. 91–206, § 2(1)
- 84 Stat. 49
- Pub. L. 91–468, § 1(2)
- 84 Stat. 994
- Pub. L. 95–630, title V, § 502(b)
- 92 Stat. 3681
- Pub. L. 95–630
- Pub. L. 91–206
- Pub. L. 86–354
- section 509 of Pub. L. 95–630
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§ 1754
Approval of organization certificate
Fed. Reg.×12
Bills×5
Stat.×3
Stat. Comp.×1
ActJune 26, 1934, ch. 750
Stat.48 Stat. 1217
Stat.61 Stat. 952
ActJune 29, 1948, ch. 711
Stat.62 Stat. 1091
Cites 19 · showing 7Cited by 21 across 4 sources