There is a newer version of the West Virginia Code
2005 West Virginia Code - CHAPTER 31C. — CREDIT UNIONS
- CHAPTER 31C. — CREDIT UNIONS.
- ARTICLE 1. — SUPERVISION AND REGULATION.
- §31C-1-1. — Definitions.
- §31C-1-2. — Authority of commissioner and board of banking and financial institutions.
- §31C-1-3. — Powers of commissioner.
- §31C-1-4. — Suspension; involuntary liquidation.
- §31C-1-5. — Examinations.
- §31C-1-6. — Records.
- §31C-1-7. — Reports.
- §31C-1-8. — Assessments.
- ARTICLE 2. — FORMATION OF CREDIT UNION.
- §31C-2-1. — Organization procedure.
- §31C-2-2. — Certification of charter; and certificate of authority.
- §31C-2-3. — Articles and bylaws.
- §31C-2-4. — Use of name exclusive.
- §31C-2-5. — Branches and other service facilities.
- §31C-2-6. — Out-of-state credit unions.
- §31C-2-7. — Conducting business outside this state.
- §31C-2-8. — Tax exemption.
- §31C-2-9. — Credit unions heretofore organized need not obtainnew charter; actions validated.
- ARTICLE 3. — POWERS OF CREDIT UNION.
- §31C-3-1. — General powers.
- §31C-3-2. — Incidental powers.
- §31C-3-3. — Advantageous federal powers.
- ARTICLE 4. — MEMBERSHIP.
- §31C-4-1. — Membership defined.
- §31C-4-2. — Organizations.
- §31C-4-3. — Membership applications.
- §31C-4-4. — Members who cease to be eligible.
- §31C-4-5. — Liability and expulsion of members.
- §31C-4-6. — Meetings of members.
- §31C-4-7. — Calling of special meeting.
- ARTICLE 5. — DIRECTION OF CREDIT UNION AFFAIRS.
- §31C-5-1. — Authority and responsibility of directors.
- §31C-5-2. — Election of directors and selection of supervisory and credit committee members.
- §31C-5-3. — Record of officials; and filling vacancies.
- §31C-5-4. — Compensation of officials; and conflicts of interests.
- §31C-5-5. — Officers.
- §31C-5-6. — Executive committee.
- §31C-5-7. — Credit committee and loan officers.
- §31C-5-8. — Audits.
- §31C-5-9. — Fidelity bonds, required oaths and hazard insurance.
- §31C-5-10. — Suspension and removal of officials.
- §31C-5-11. — Inspection of books and records by members.
- ARTICLE 6. — ACCOUNTS.
- §31C-6-1. — Share accounts and membership shares.
- §31C-6-2. — Dividends.
- §31C-6-3. — Deposit accounts.
- 31C-6-4. — Minor accounts.
- 31C-6-5. — Joint accounts.
- 31C-6-6. — Trust accounts.
- §31C-6-7. — Payable-on-death accounts.
- §31C-6-8. — Liens.
- §31C-6-9. — Share and deposit insurance.
- §31C-6-10. — Reduction in shares.
- ARTICLE 7. — LOANS.
- §31C-7-1. — Purpose and conditions of loans.
- §31C-7-2. — Finance charge.
- §31C-7-3. — Additional charges.
- §31C-7-4. — Applications.
- §31C-7-5. — Loan limit; collateral requirements; and repayment.
- §31C-7-6. — Line of credit.
- §31C-7-7. — Participation loans.
- §31C-7-8. — Other loan programs.
- §31C-7-9. — Loans to officials.
- ARTICLE 8. — OTHER MEMBER SERVICES.
- §31C-8-1. — Insurance for members.
- §31C-8-2. — Indemnification of officers.
- §31C-8-3. — Group purchasing.
- §31C-8-4. — Money-type instruments.
- §31C-8-5. — Retirement accounts and trust authority.
- ARTICLE 9. — INVESTMENTS AND RESERVE ALLOCATIONS.
- §31C-9-1. — Investment and deposit of funds.
- §31C-9-2. — Authorized investments.
- §31C-9-3. — Reserve funds.
- ARTICLE 10. — CHANGE IN CORPORATE STATUS.
- §31C-10-1. — Voluntary liquidation.
- §31C-10-2. — Merger of credit unions.
- §31C-10-3. — Conversion.
- ARTICLE 11. — CORPORATE CREDIT UNION.
- §31C-11-1. — Incorporation.
- §31C-11-2. — Purposes.
- §31C-11-3. — Membership.
- §31C-11-4. — Organization.
- §31C-11-5. — Powers and privileges.
- §31C-11-6. — Participation in central system.
- §31C-11-7. — Security interest.
- §31C-11-8. — Meetings.
- §31C-11-9. — Fees.
- §31C-11-10. — Reserves.
- §31C-11-11. — Annual audit.
- §31C-11-12. — Securities exemption.
- ARTICLE 12. — PENALTIES.
- §31C-12-1. — Criminal liability.
- §31C-12-2. — Penalty for false reports.
- §31C-12-3. — Civil penalties.
Disclaimer: These codes may not be the most recent version. West Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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