Credit Union Share Insurance Amendments, Hearing Before ..., 92-1 on S.2679 ... S.2758 ... H.R.99961 ..., November 8, 1971 |
Common terms and phrases
amendment assets assistance bill Board of Directors Board of Trustees CHAIRMAN community credit unions Congress Corporation Credit Union Act Credit Union Administration Credit Union League credit union members credit union movement Credit Union Share credit unions serving criteria CUNA delinquent loans demand deposit accounts demand deposits Farmers Insurance Group Federal credit unions Federal Share Insurance financial condition Gannon House income credit unions insured credit union John Sparkman limited income credit liquidation loans delinquent losses low-income credit unions member accounts member credit unions membership million National Credit Union NCUA NICKERSON October October 19 Office operating percent period premiums present President problem provisional insurance qualify for insurance qualify for share record regular reserve rejected credit unions reserve deficiencies Rhode Island savings Section Senator BENNETT Senator PROXMIRE share insurance law share insurance program standards statement tion U.S. Senate uninsurable Utah Credit Union Utah League WHITE Wisconsin
Popular passages
Page 32 - person' means any individual, partnership, corporation, trust, estate, cooperative, association, government or governmental subdivision or agency, or other entity. "(c) The term 'consumer' means an individual. "(d) The term 'consumer report...
Page 97 - At the end of each accounting period the gross income shall be determined. From this amount, there shall be set aside, as a regular reserve against losses on loans and against such other losses as may be specified in regulations prescribed under this Act, sums in accordance with the following schedule...
Page 87 - ... Corporation shall be vested in the Board of Trustees. ARTICLE IX QUALIFICATIONS OF TRUSTEES Section 1. Members of the Board of Trustees, elected by the member credit unions, shall reside in the State of Wisconsin during their term of office, and all must be citizens of the United States. Section 2. All elected members of the Board of Trustees shall have at least five (5) years' experience in the actual operation of a credit union in the State of Wisconsin. Each trustee shall, at the time of his...
Page 5 - Act to promote thrift among their members and create a source of credit for provident and productive purposes. Membership is limited to a group of persons having a common bond of association, occupation, or residence.
Page 90 - The Commissioner of Banking shall have the power to require the officers of the Corporation to keep such books or accounts as he may, in his discretion, determine and prescribe for the purpose of keeping accurate and convenient records of the transactions and accounts of such corporation.
Page 88 - Death, resignation, or removal from the City of Crawfordsville of a trustee shall create a vacancy, and a vacancy created in such a manner, or otherwise, shall be filled by the remaining members of the board of trustees, and in the event of the failure of the board of trustees to fill such vacancy, the City Council shall, after ten days' notice to said board, appoint a trustee to fill said vacancy.
Page 90 - Every such corporation, on the thirty-first day of December of each year, shall make a full and detailed report of its business done the preceding year, and of its condition on such date, in such form and containing such information as said examiner may prescribe, and shall file with him a true and verified copy thereof...
Page 89 - Such request shall specify the reasons for the removal of such trustee, officer, committee member, or employee and also shall advise such trustee, officer, committee member, or employee relative to his rights to a public hearing. If such request for removal is not complied with within a reasonable time fixed by the Commissioner of Banking, he may, by order, remove such trustee, officer, committee member, or employee, but no order for removal shall be entered until after an opportunity for a public...
Page 87 - ... subparagraph 2 above; (5) manufacturers of wood tar products; (6) manufacturers of wood rosin and derivatives thereof; (7) bankers, real estate dealers and others interested in lands or in forest products, or the better utilization thereof. (e) One-third of the first Board of Trustees will be chosen for one year, one-third for two years, and one-third for three years. Thereafter the Trustees will be elected for a term of three years. There will be an Executive Committee of the Board composed...
Page 87 - York during their term of office, and all must be citizens of the United States. No person shall be elected a director unless he is a shareholder of a member association and has been nominated by it for that office ; and every person elected to be a director who, after such election, shall cease to be a shareholder of a member association, shall cease to be a director of the land...