Incorporation of Credit Unions: Hearings...on S. 1153...Jan. 15-Feb. 5, 19321932 - 51 pages |
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12 per cent 39 banks ADDISON amendments amount annual meeting Arthur Capper assets average AWALT bankers banking situation borrow BREHM BRIDE building and loan by-laws cent a month charge charter Comptroller Congress cooperative corporation counsel credit committee credit union bill credit union laws Currency December 31 depositors directors discretion District of Columbia Edge corporations employees exempt fact favorably Federal Reserve Board field of membership Filene funds give Government GRAHAM INCORPORATION OF CREDIT legislation Liberty bonds license fee limit loan associations loan sharks Massachusetts mutual o'clock p. m. operate organization certificate paid person present public utilities act rate of interest ROBERTS Russell Sage Foundation securities Senator BLAINE Senator Capper Senator COPELAND Senator GORE Senator KEAN Senator KING shares small loans statement subscribers suggestion supervision taxation tion troller trust companies United Washington
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Page 2 - Commissioners granting the same indorsed thereon, shall be filed for record in the office of the recorder of deeds for the District of Columbia, and shall be recorded by him.
Page 3 - ... to hold office for such terms, respectively, as the bylaws may provide. A record of the names and addresses of the members of the board and committees and officers shall be filed with the Bureau within ten days after their election. No member of the board or of either committee shall, as such, be compensated.
Page 4 - Committee, and all applications shall set forth the purpose for which the loan is desired, the security, if any, offered, and such other data as may be required.
Page 4 - Shares which become fully paid up during the year shall be entitled to a proportional part of said dividend calculated from the first day of the month following such payment in full. SECTION 19. EXPULSION — WITHDRAWAL. A member may be expelled by a two-thirds vote of the members present at a special meeting called to consider the matter but only after a hearing.
Page 4 - ... by a unanimous vote, may suspend any officer of the corporation, or any member of the credit committee or of the board of directors until the next members...
Page 24 - Sec. 24. (a) If any provision of this Act, or the application thereof to any person or circumstance, is held invalid, the remainder of the Act, and the application of such provisions to other persons or circumstances, shall not be affected thereby.
Page 3 - The affairs of the Association shall be managed by a Board of not less than five directors, elected by the members or stockholders from their own number.
Page 24 - Before the treasurer shall enter upon his duties he shall give bond with good and sufficient surety, in an amount and character to be determined from time to time by the board of directors, conditioned upon the faithful performance of his trust.
Page 1 - Federal Credit Union Act". Definitions Sec. 2. A Federal credit union is hereby denned as a cooperative association organized in accordance with the provisions of this Act for the purpose of promoting thrift among its members and creating a source of credit for provident or productive purposes.
Page 3 - Credit union membership shall consist of the incorporators and such other persons as may be elected to membership and subscribe to at least one share, pay the initial installment thereon and the entrance fee. Organizations (incorporated or otherwise) composed for the most part of the same general group as the credit union membership may be members. Credit...