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Current as of January 01, 2025 | Updated by Findlaw Staff
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.
Cite this article: FindLaw.com - Utah Code Title 7. Financial Institutions Act § 7-9-12. Contents of bylaws - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-7-financial-institutions-act/ut-code-sect-7-9-12/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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