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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-9-19

Except in liquidation or dissolution, a credit union must pay expelled members the amounts they paid on shares or deposited, plus accrued interest, in order of expulsion, after deducting any amounts the members owe the…

Source excerpt

Jurisdiction
United States — Utah
Status
In force
Dates
Legal dates not recorded
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01

Purpose and legislative effect

“Except in liquidation or dissolution, a credit union must pay expelled members the amounts they paid on shares or deposited, plus accrued interest, in order of expulsion, after deducting any amounts the members owe the credit union.”

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02

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Subsection 7-9-19(1)

Except in liquidation or dissolution, amounts paid on shares or deposited by expelled members must be returned to them with accrued interest, in order of expulsion.

Section 7-9-19(1)

Subsection 7-9-19(3)

The credit union must deduct all amounts owed by an expelled member before paying any money to that member.

Section 7-9-19(3)

Subsection 7-9-19(4)

Expulsion does not relieve a member from any liability to the credit union.

Section 7-9-19(4)

04

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In force source record

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

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Showing 5 of 5 provisions

Provision 5
§ 7-9-19Payments to expelled members -- Liability of member not relieved by expulsion.Provision

Source excerpt

Except in liquidation or dissolution, a credit union must pay expelled members the amounts they paid on shares or deposited, plus accrued interest, in order of expulsion, after deducting any amounts the members owe the credit union.

Payments to expelled members -- Liability of member not relieved by expulsion. 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. Payment shall be made only as funds become available. 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. Expulsion does not relieve a member from any liability to the credit union.
Section 7-9-19Verify source
§ 7-9-19(1)Subsection 7-9-19(1)Provision

Source excerpt

Except in liquidation or dissolution, amounts paid on shares or deposited by expelled members must be returned to them with accrued interest, in order of expulsion.

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.
Section 7-9-19(1)Verify source
§ 7-9-19(2)Subsection 7-9-19(2)Provision

Source excerpt

Payment shall be made only as funds become available.

Payment shall be made only as funds become available.
Section 7-9-19(2)Verify source
§ 7-9-19(3)Subsection 7-9-19(3)Provision

Source excerpt

The credit union must deduct all amounts owed by an expelled member before paying any money to that member.

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.
Section 7-9-19(3)Verify source
§ 7-9-19(4)Subsection 7-9-19(4)Provision

Source excerpt

Expulsion does not relieve a member from any liability to the credit union.

Expulsion does not relieve a member from any liability to the credit union.
Section 7-9-19(4)Verify source

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