Go to Previous Versions
of
this Section
2025 Utah Code
Title 7 - Financial Institutions Act
Chapter 9 - Utah Credit Union Act
Section 19 - Payments to expelled members -- Liability of member not relieved by expulsion.
Universal Citation:
UT Code § 7-9-19 (2025)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
7-9-19. Payments to expelled members -- Liability of member not relieved by expulsion.
Amended by Chapter 378, 2010 General Session
- (1) Except in the case of liquidation or dissolution, the amount paid in on shares or deposited by members who have been expelled shall be paid to them with all accrued interest, in the order of expulsion.
- (2) Payment shall be made only as funds become available.
- (3) All amounts due the credit union by the expelled member shall be deducted by the credit union before any amounts are paid to the expelled member.
- (4) Expulsion does not relieve a member from any liability to the credit union.
Amended by Chapter 378, 2010 General Session
Disclaimer: These codes may not be the most recent version. Utah 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.
