United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-9-51, 1999

A credit union’s field of membership is limited to specified groups, with some exceptions and approval-based expansions or restrictions.

Source excerpt

county eligibilitycredit unionsfield of membershipmembershipmembership fieldmembership restrictionsmergers

Jurisdiction: United States — Utah
Status: In force
Official identity: Year 1999
Dates: Enacted 1999

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Dates: Enacted 1999

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“A credit union’s field of membership is limited to specified groups, with some exceptions and approval-based expansions or restrictions.”

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Enacted 1999. The date shown identifies this source expression and should not be treated as proof that no later change exists.
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Field of membership.

A credit union’s field of membership is limited to specified groups, with some exceptions and approval-based expansions or restrictions.

Section 7-9-51

Subsection 7-9-51(1)(d)

Refers to one or more associations.

Section 7-9-51(1)(d)

Subsection 7-9-51(1)(e)(iii)

approved by the commissioner in accordance with Subsection 7-9-52(6) .

Section 7-9-51(1)(e)(iii)

Subsection 7-9-51(3)(c)

The commissioner may permit something after a merger, if it is in accordance with Section 7-9-39.5.

Section 7-9-51(3)(c)

Subsection 7-9-51(5)(b)

Both counties described in Subsection (5)(a) must be counties of the third through sixth class.

Section 7-9-51(5)(b)

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Source record from le.utah.gov · Enacted 1999

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Showing 19 of 19 provisions

Provision 19

§ 7-9-51Field of membership.Provision

Source excerpt

A credit union’s field of membership is limited to specified groups, with some exceptions and approval-based expansions or restrictions.

Field of membership. Except as provided in Subsection (3) or (5) , the field of membership of a credit union may include only the following: the immediate family of a member of the credit union; the employees of the credit union; residents of a single county; one or more associations; and residents of a city of the third, fourth, or fifth class or a town as classified in Section 10-2-301 if: the city or town is located in a county of the fourth through sixth class as classified in Section 17-60-104 ; at the time the residents of the city or town are included in the field of membership of a credit union, the credit union has not become a nonexempt credit union under Section 7-9-55 ; and approved by the commissioner in accordance with Subsection 7-9-52(6) . A credit union may have a field of membership that is more restrictive than the field of membership described in Subsection (1) . A credit union may have a field of membership that is less restrictive than the field of membership described in Subsection (1) if the field of membership of the credit union: is determined under Subsection 7-9-53(2)(c) ; is approved by the commissioner after a merger under Subsection 7-9-39(5) ; or is permitted by the commissioner after a merger in accordance with Section 7-9-39.5 . If a credit union includes the residents of one county in its field of membership, the credit union may not change its field of membership to include a different county than the county that is first included in the field of membership of the credit union. Notwithstanding the other provisions of this section or any restrictions of Section 7-9-53 , a credit union may have a field of membership that is less restrictive than the field of membership described in Subsection (1) , under the following conditions: the field of membership of the credit union may include no more than all the residents of two counties in addition to any association included in the field of membership of the credit union; and both counties described in Subsection (5)(a) must be a county of the third through sixth class, as classified in Section 17-60-104 .

Section 7-9-51Verify source

§ 7-9-51(1)Subsection 7-9-51(1)Provision

Source excerpt

Except as provided in Subsection (3) or (5) , the field of membership of a credit union may include only the following: the immediate family of a member of the credit union; the employees of the credit union; residents of a single county; one or more associations; and residents of a city of the third, fourth, or fifth class or a town as classified in Section 10-2-301 if: the city or town is located in a county of the fourth through sixth class as classified in Section 17-60-104 ; at the time the residents of the city or town are included in the field of membership of a credit union, the credit union has not become a nonexempt credit union under Section 7-9-55 ; and approved by the commissioner in accordance with Subsection 7-9-52(6) .

Section 7-9-51(1)Verify source

§ 7-9-51(1)(a)Subsection 7-9-51(1)(a)Provision

Source excerpt

the immediate family of a member of the credit union;

Section 7-9-51(1)(a)Verify source

§ 7-9-51(1)(b)Subsection 7-9-51(1)(b)Provision

Source excerpt

Refers to the employees of the credit union.

the employees of the credit union;

Section 7-9-51(1)(b)Verify source

§ 7-9-51(1)(c)Subsection 7-9-51(1)(c)Provision

Source excerpt

Refers to residents of a single county.

residents of a single county;

Section 7-9-51(1)(c)Verify source

§ 7-9-51(1)(d)Subsection 7-9-51(1)(d)Provision

Source excerpt

Refers to one or more associations.

one or more associations; and

Section 7-9-51(1)(d)Verify source

§ 7-9-51(1)(e)Subsection 7-9-51(1)(e)Provision

Source excerpt

residents of a city of the third, fourth, or fifth class or a town as classified in Section 10-2-301 if: the city or town is located in a county of the fourth through sixth class as classified in Section 17-60-104 ; at the time the residents of the city or town are included in the field of membership of a credit union, the credit union has not become a nonexempt credit union under Section 7-9-55 ; and approved by the commissioner in accordance with Subsection 7-9-52(6) .

Section 7-9-51(1)(e)Verify source

§ 7-9-51(1)(e)(i)Subsection 7-9-51(1)(e)(i)Provision

Source excerpt

the city or town is located in a county of the fourth through sixth class as classified in Section 17-60-104 ;

Section 7-9-51(1)(e)(i)Verify source

§ 7-9-51(1)(e)(ii)Subsection 7-9-51(1)(e)(ii)Provision

Source excerpt

at the time the residents of the city or town are included in the field of membership of a credit union, the credit union has not become a nonexempt credit union under Section 7-9-55 ; and

Section 7-9-51(1)(e)(ii)Verify source

§ 7-9-51(1)(e)(iii)Subsection 7-9-51(1)(e)(iii)Provision

Source excerpt

approved by the commissioner in accordance with Subsection 7-9-52(6) .

Section 7-9-51(1)(e)(iii)Verify source

§ 7-9-51(2)Subsection 7-9-51(2)Provision

Source excerpt

A credit union may have a field of membership that is more restrictive than the one described in Subsection (1).

A credit union may have a field of membership that is more restrictive than the field of membership described in Subsection (1) .

Section 7-9-51(2)Verify source

§ 7-9-51(3)Subsection 7-9-51(3)Provision

Source excerpt

A credit union may have a less restrictive field of membership if specified conditions are met.

A credit union may have a field of membership that is less restrictive than the field of membership described in Subsection (1) if the field of membership of the credit union: is determined under Subsection 7-9-53(2)(c) ; is approved by the commissioner after a merger under Subsection 7-9-39(5) ; or is permitted by the commissioner after a merger in accordance with Section 7-9-39.5 .

Section 7-9-51(3)Verify source

§ 7-9-51(3)(a)Subsection 7-9-51(3)(a)Provision

Source excerpt

is determined under Subsection 7-9-53(2)(c) ;

Section 7-9-51(3)(a)Verify source

§ 7-9-51(3)(b)Subsection 7-9-51(3)(b)Provision

Source excerpt

is approved by the commissioner after a merger under Subsection 7-9-39(5) ; or

Section 7-9-51(3)(b)Verify source

§ 7-9-51(3)(c)Subsection 7-9-51(3)(c)Provision

Source excerpt

The commissioner may permit something after a merger, if it is in accordance with Section 7-9-39.5.

is permitted by the commissioner after a merger in accordance with Section 7-9-39.5 .

Section 7-9-51(3)(c)Verify source

§ 7-9-51(4)Subsection 7-9-51(4)Provision

Source excerpt

If a credit union’s field of membership includes one county’s residents, it may not switch to a different county.

If a credit union includes the residents of one county in its field of membership, the credit union may not change its field of membership to include a different county than the county that is first included in the field of membership of the credit union.

Section 7-9-51(4)Verify source

§ 7-9-51(5)Subsection 7-9-51(5)Provision

Source excerpt

A credit union may have a less restrictive field of membership, but it can include only residents of up to two counties, and those counties must be third- through sixth-class counties.

Notwithstanding the other provisions of this section or any restrictions of Section 7-9-53 , a credit union may have a field of membership that is less restrictive than the field of membership described in Subsection (1) , under the following conditions: the field of membership of the credit union may include no more than all the residents of two counties in addition to any association included in the field of membership of the credit union; and both counties described in Subsection (5)(a) must be a county of the third through sixth class, as classified in Section 17-60-104 .

Section 7-9-51(5)Verify source

§ 7-9-51(5)(a)Subsection 7-9-51(5)(a)Provision

Source excerpt

The credit union’s field of membership may include up to all residents of two counties, plus any association already included.

the field of membership of the credit union may include no more than all the residents of two counties in addition to any association included in the field of membership of the credit union; and

Section 7-9-51(5)(a)Verify source

§ 7-9-51(5)(b)Subsection 7-9-51(5)(b)Provision

Source excerpt

Both counties described in Subsection (5)(a) must be counties of the third through sixth class.

both counties described in Subsection (5)(a) must be a county of the third through sixth class, as classified in Section 17-60-104 .

Section 7-9-51(5)(b)Verify source

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Utah Code § 7-9-51, 1999

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