Handbook for Federal Credit UnionsBureau of Federal Credit Unions, Social Security Administration, 1949 |
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Common terms and phrases
accordance action amended amount annual application appointed approved assets assistance audit authority balance bank become bers board of directors bond borrowers Bureau of Federal bylaws carry cash cause certificate charged charter checks collection compensation complete concerned condition copy Corporation coverage credit committee Credit Union Act delinquent determine direct dividend duties educational effective elected employees establish examination excess executive expenses Federal credit union Form funds held interest internal investments limits liquidation loans loss Manual maximum meeting membership ment month necessary needs notice obligations obtained operations organization paid payment perform period person policies prescribed president procedures proposed reasonable received records Regular Reserve responsibility Rules and Regulations savings serve shares Stat supervisory committee surety tion treasurer vote
Popular passages
Page 27 - The taking, receiving, reserving, or charging a rate of interest greater than is allowed by the preceding section, when knowingly done, shall be deemed a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it, or which has been agreed to be paid thereon.
Page 25 - Every credit union is a cooperative institution organized "for the purpose of promoting thrift among its members and creating a source of credit for provident or productive purposes.
Page 48 - The names and places of residence of the shareholders and the number of shares held by each of them. Fifth. The fact that the certificate is made to enable such persons to avail themselves of the advantages of this Title.
Page 28 - This statement shall be accompanied by a certified copy of a resolution of the board of directors of the Federal credit union concerned authorizing the filing of the statement. If no statement is received within the period of time specified in the order, or if the proffered reasons why the...
Page 46 - ... of the credit union. § 306.4 Notice of meeting to Bureau. A copy of the written notice of the meeting, verified by the affidavit of the secretary of the credit union, shall be delivered to the Regional Representative, at the same time, in advance of the meeting, that it is delivered to the members. § 306.5 Report of results of meeting to Bureau. A statement of the results of the vote, verified by the affidavits of the president or vice president and the secretary, shall be filed with the Regional...
Page 38 - The Federal credit unions organized hereunder, their property, their franchises, capital, reserves, surpluses, and other funds, and their income shall be exempt from all taxation now or hereafter imposed by the United States or by any State, Territorial, or local taxing authority...
Page 75 - In either event, written notice of the meeting, stating the purpose thereof and a summary of the plan, shall be handed to each member in person, or mailed to each member at his address as the same appears on the records of the credit union, as provided in the bylaws. In...
Page 84 - ... (c) Whoever receives, possesses, conceals, stores, barters, sells, or disposes of, any property or money or other thing of value knowing the same to have been taken from a bank, or a savings and loan association, in violation of subsection (b) of this section shall be subject to the punishment provided by said subsection (b) for the taker.
Page 83 - Corporation, or (2) passes, utters, or publishes, or attempts to pass, utter, or publish, any false, forged, or counterfeited...
Page 29 - State' includes the several States and Alaska, Hawaii, Puerto Rico, the District of Columbia, and the Virgin Islands. "SEC.