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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-9-16

Members -- Eligibility -- Liability -- Grounds for closing account -- Denial of membership. A person within the field of membership of a credit union may be admitted to membership, upon: payment of any required entrance…

Source excerpt

account closurecredit union account managementcredit union membershipcredit unionsliability limitationmembership admissionmembership eligibility
Jurisdiction
United States — Utah
Status
In force
Dates
Legal dates not recorded
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01

Purpose and legislative effect

“Members -- Eligibility -- Liability -- Grounds for closing account -- Denial of membership. A person within the field of membership of a credit union may be admitted to membership, upon: payment of any required entrance or membership fee;”

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Subsection 7-9-16(3)

A credit union member may not be held personally liable for the credit union’s debts.

Section 7-9-16(3)

04

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In force source record

Source record from le.utah.gov · Legal dates not recorded

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Showing 9 of 9 provisions

Provision 9
§ 7-9-16Members -- Eligibility -- Liability -- Grounds for closing account -- Denial of membership.Provision

Source excerpt

Members -- Eligibility -- Liability -- Grounds for closing account -- Denial of membership. A person within the field of membership of a credit union may be admitted to membership, upon: payment of any required entrance or membership fee;

Members -- Eligibility -- Liability -- Grounds for closing account -- Denial of membership. A person within the field of membership of a credit union may be admitted to membership, upon: payment of any required entrance or membership fee; payment for one or more shares; and compliance with this chapter and the bylaws of the credit union. A member who is eligible for membership in a credit union at the time the member is admitted as a member but who is no longer in the field of membership of the credit union may retain membership in the credit union unless otherwise provided in the bylaws of the credit union. A member of the credit union may not be held personally or individually liable for payment of the credit union's debts. The credit union may close the account of any member whose actions have resulted in any financial loss to the credit union. Denial of membership is not considered a denial of credit.
Section 7-9-16Verify source
§ 7-9-16(1)Subsection 7-9-16(1)Provision

Source excerpt

A person within a credit union’s field of membership may be admitted to membership if required fees are paid, one or more shares are purchased, and the chapter and credit union bylaws are followed.

A person within the field of membership of a credit union may be admitted to membership, upon: payment of any required entrance or membership fee; payment for one or more shares; and compliance with this chapter and the bylaws of the credit union.
Section 7-9-16(1)Verify source
§ 7-9-16(1)(a)Subsection 7-9-16(1)(a)Provision

Source excerpt

payment of any required entrance or membership fee;

payment of any required entrance or membership fee;
Section 7-9-16(1)(a)Verify source
§ 7-9-16(1)(b)Subsection 7-9-16(1)(b)Provision

Source excerpt

payment for one or more shares; and

payment for one or more shares; and
Section 7-9-16(1)(b)Verify source
§ 7-9-16(1)(c)Subsection 7-9-16(1)(c)Provision

Source excerpt

compliance with this chapter and the bylaws of the credit union.

compliance with this chapter and the bylaws of the credit union.
Section 7-9-16(1)(c)Verify source
§ 7-9-16(2)Subsection 7-9-16(2)Provision

Source excerpt

A member who later leaves the credit union’s field of membership may still keep membership, unless the credit union’s bylaws provide otherwise.

A member who is eligible for membership in a credit union at the time the member is admitted as a member but who is no longer in the field of membership of the credit union may retain membership in the credit union unless otherwise provided in the bylaws of the credit union.
Section 7-9-16(2)Verify source
§ 7-9-16(3)Subsection 7-9-16(3)Provision

Source excerpt

A credit union member may not be held personally liable for the credit union’s debts.

A member of the credit union may not be held personally or individually liable for payment of the credit union's debts.
Section 7-9-16(3)Verify source
§ 7-9-16(4)Subsection 7-9-16(4)Provision

Source excerpt

The credit union may close a member’s account if the member’s actions caused financial loss to the credit union.

The credit union may close the account of any member whose actions have resulted in any financial loss to the credit union.
Section 7-9-16(4)Verify source
§ 7-9-16(5)Subsection 7-9-16(5)Provision

Source excerpt

Denial of membership is not considered a denial of credit.

Denial of membership is not considered a denial of credit.
Section 7-9-16(5)Verify source

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