7-9-12. Contents of bylaws.

164 words·~1 min read·/ut/title-7/chapter-9/7-9-12

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

The bylaws of a credit union shall specify at least the following:

(1)the name of the credit union;

(2)the purpose for which the credit union was formed;

(3)a field of membership of the credit union that complies with Section 7-9-51 or 7-9-53 ;

(4)the number of directors and procedures for their election;

(5)the term of directors;

(6)whether a credit manager, credit committee, or combination of both shall be responsible for credit functions of the credit union;

(7)the duties of the officers;

(8)the time of year of the annual meeting of members;

(9)the manner in which members shall be notified of meetings;

(10)the number of members which shall constitute a quorum at meetings;

(11)the manner of amending;

(12)the manner in which officers may act as surety; and

(13)such other matters, rules, and regulations as the board of directors consider necessary.

Amended by Chapter 327 , 2003 General Session