United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-9-53, 1999

This section defines grandfathering terms and limits what certain credit unions may do with branches, offices, service centers, and membership after May 3, 1999.

Source excerpt

association membershipbranch establishmentbranch locationsbranch officesbranch operationsbranchesbylawsbylaws amendmentcompliance deadlinecounty coveragecredit union governancecredit union locationcredit union membershipcredit unionsdomicile-county residencyfield of membershipmembershipmembership eligibilitymembership fieldmergeroffice relocationresidency-based association

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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“This section defines grandfathering terms and limits what certain credit unions may do with branches, offices, service centers, and membership after May 3, 1999.”

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Grandfathering.

This section defines grandfathering terms and limits what certain credit unions may do with branches, offices, service centers, and membership after May 3, 1999.

Section 7-9-53

Subsection 7-9-53(2)(b)(ii)(A)

the immediate family of a member of the credit union;

Section 7-9-53(2)(b)(ii)(A)

Subsection 7-9-53(2)(c)(ii)(E)

any association that as of January 1, 1999, is in the field of membership of the credit union.

Section 7-9-53(2)(c)(ii)(E)

Subsection 7-9-53(3)(c)(i)

Refers to a person in the credit union’s grandfathered field of membership.

Section 7-9-53(3)(c)(i)

Subsection 7-9-53(7)

A credit union must follow the title’s requirements for establishing, relocating, or changing the physical location of a main office or branch, in addition to any requirements in this section.

Section 7-9-53(7)

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Source record from le.utah.gov · Enacted 1999

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Showing 63 of 63 provisions

Provision 61Amendment 2

§ 7-9-53Grandfathering.Amendment

Source excerpt

This section defines grandfathering terms and limits what certain credit unions may do with branches, offices, service centers, and membership after May 3, 1999.

Grandfathering. As used in this section: "Association that resides in a domicile-county" means an association that: operates a place of business or other physical location in the domicile-county; or has at least 100 members that are residents of the domicile-county. "Domicile-county" means the county: in the field of membership of the credit union as of January 1, 1999; and in which the credit union has located the greatest number of branches as of January 1, 1999. "Grandfathered field of membership" means the field of membership as of May 3, 1999, of a credit union described in Subsection (2)(c) . For each credit union formed before January 1, 1999, its field of membership as of May 3, 1999, is determined as follows: if the field of membership stated in the bylaws of the credit union as of January 1, 1999, complies with Section 7-9-51 , the credit union's field of membership is the field of membership indicated in its bylaws; the field of membership of a credit union as of May 3, 1999, is as provided in Subsection (2)(b)(ii) if: the field of membership stated in the bylaws of the credit union as of January 1, 1999, includes the residents of more than one county; and as of January 1, 1999, the credit union's main office and any of its branches are located in only one county in its field of membership; as of May 3, 1999, the field of membership of a credit union described in Subsection (2)(b)(i) is: the immediate family of a member of the credit union; the employees of the credit union; residents of the one county in which the credit union has its main office or branches as of January 1, 1999; and any association that as of January 1, 1999, is in the field of membership of the credit union; and the field of membership of a credit union as of May 3, 1999, is as provided in Subsection (2)(c)(ii) if: the field of membership stated in the bylaws of the credit union as of January 1, 1999, includes the residents of more than one county; and as of January 1, 1999, the credit union has a main office or branch in more than one county; as of May 3, 1999, the field of membership of a credit union described in Subsection (2)(c)(i) is: the immediate family of a member of the credit union; the employees of the credit union; residents of the credit union's domicile-county; the residents of any county other than the domicile-county: if, as of January 1, 1999, the county is in the field of membership of the credit union; and in which, as of January 1, 1994, the credit union had located its main office or a branch; and any association that as of January 1, 1999, is in the field of membership of the credit union. If a credit union's field of membership is as described in Subsection (2)(c) , beginning May 3, 1999, the credit union: within the credit union's domicile-county, may establish, relocate, or otherwise change the physical location of the credit union's: main office; or branch; within a county other than a domicile-county that is in the credit union's grandfathered field of membership, may not: establish a main office or branch that: was not located in the county as of January 1, 1999; or for which the credit union has not received by January 1, 1999, approval or conditional approval of a site plan for the main office or branch from the planning commission of the municipality where the main office or branch will be located; participate in a service center in which it does not participate as of January 1, 1999; relocate the credit union's main office or a branch located in the county as of January 1, 1999, unless the commissioner finds that the main office or branch is relocated within a three-mile radius of where it was originally located; or after a voluntary merger under Section 7-9-39 , operate a branch in the county if: the effective date of the merger is on or after May 5, 2003; the credit union with the field of membership described in Subsection (2)(c) is the surviving credit union after the merger; and the credit union did not own and operate the branch before the effective date of the merger; and may only admit as a member: a person in the credit union's grandfathered field of membership; or a person belonging to an association that: is added to the field of membership of the credit union; and resides in the domicile-county of the credit union. If a credit union's field of membership is as described in Subsection (2)(b) , as of May 3, 1999, the credit union may operate as a credit union having a field of membership under Section 7-9-51 . Notwithstanding Subsections (1) through (4) , after May 3, 1999, a credit union described in Subsection (2)(c) may: operate an office or branch that is operated by the credit union on May 3, 1999, but that is not located in a county that is in the credit union's field of membership as of May 3, 1999; and serve a member who is not in a credit union's field of membership as of May 3, 1999, if the member is a member of the credit union as of March 15, 1999. Subsection (5)(a) does not authorize a credit union to: establish a branch in a county that is not in the credit union's field of membership as of May 3, 1999, unless the branch meets the requirements under this title for establishing a branch; or for a credit union described in Subsection (2)(c) , include in its field of membership an association that: as of January 1, 1999, is not included in the credit union's field of membership; and does not reside within the credit union's domicile-county. A credit union shall amend its bylaws in accordance with Section 7-9-11 by no later than August 3, 1999, to comply with this section. In addition to any requirement under this section, a credit union shall comply with any requirement under this title for the establishment, relocation, or change in the physical location of a main office or branch of a credit union.

Section 7-9-53Verify source

§ 7-9-53(1)Subsection 7-9-53(1)Provision

Source excerpt

This section defines three terms used in the provision.

As used in this section: "Association that resides in a domicile-county" means an association that: operates a place of business or other physical location in the domicile-county; or has at least 100 members that are residents of the domicile-county. "Domicile-county" means the county: in the field of membership of the credit union as of January 1, 1999; and in which the credit union has located the greatest number of branches as of January 1, 1999. "Grandfathered field of membership" means the field of membership as of May 3, 1999, of a credit union described in Subsection (2)(c) .

Section 7-9-53(1)Verify source

§ 7-9-53(1)(a)Subsection 7-9-53(1)(a)Provision

Source excerpt

This provision defines when an association counts as one that resides in a domicile-county.

"Association that resides in a domicile-county" means an association that: operates a place of business or other physical location in the domicile-county; or has at least 100 members that are residents of the domicile-county.

Section 7-9-53(1)(a)Verify source

§ 7-9-53(1)(a)(i)Subsection 7-9-53(1)(a)(i)Provision

Source excerpt

operates a place of business or other physical location in the domicile-county; or

Section 7-9-53(1)(a)(i)Verify source

§ 7-9-53(1)(a)(ii)Subsection 7-9-53(1)(a)(ii)Provision

Source excerpt

A group must have at least 100 members who are residents of the domicile county.

has at least 100 members that are residents of the domicile-county.

Section 7-9-53(1)(a)(ii)Verify source

§ 7-9-53(1)(b)Subsection 7-9-53(1)(b)Provision

Source excerpt

"Domicile-county" means a county that meets both stated historical conditions tied to a credit union's membership field and branch locations as of January 1, 1999.

"Domicile-county" means the county: in the field of membership of the credit union as of January 1, 1999; and in which the credit union has located the greatest number of branches as of January 1, 1999.

Section 7-9-53(1)(b)Verify source

§ 7-9-53(1)(b)(i)Subsection 7-9-53(1)(b)(i)Provision

Source excerpt

in the field of membership of the credit union as of January 1, 1999; and

Section 7-9-53(1)(b)(i)Verify source

§ 7-9-53(1)(b)(ii)Subsection 7-9-53(1)(b)(ii)Provision

Source excerpt

in which the credit union has located the greatest number of branches as of January 1, 1999.

Section 7-9-53(1)(b)(ii)Verify source

§ 7-9-53(1)(c)Subsection 7-9-53(1)(c)Provision

Source excerpt

"Grandfathered field of membership" means the field of membership as of May 3, 1999, of a credit union described in Subsection (2)(c) .

Section 7-9-53(1)(c)Verify source

§ 7-9-53(2)Subsection 7-9-53(2)Provision

Source excerpt

This subsection sets how a credit union formed before January 1, 1999, determines its field of membership as of May 3, 1999, based on its bylaws and county-location conditions.

For each credit union formed before January 1, 1999, its field of membership as of May 3, 1999, is determined as follows: if the field of membership stated in the bylaws of the credit union as of January 1, 1999, complies with Section 7-9-51 , the credit union's field of membership is the field of membership indicated in its bylaws; the field of membership of a credit union as of May 3, 1999, is as provided in Subsection (2)(b)(ii) if: the field of membership stated in the bylaws of the credit union as of January 1, 1999, includes the residents of more than one county; and as of January 1, 1999, the credit union's main office and any of its branches are located in only one county in its field of membership; as of May 3, 1999, the field of membership of a credit union described in Subsection (2)(b)(i) is: the immediate family of a member of the credit union; the employees of the credit union; residents of the one county in which the credit union has its main office or branches as of January 1, 1999; and any association that as of January 1, 1999, is in the field of membership of the credit union; and the field of membership of a credit union as of May 3, 1999, is as provided in Subsection (2)(c)(ii) if: the field of membership stated in the bylaws of the credit union as of January 1, 1999, includes the residents of more than one county; and as of January 1, 1999, the credit union has a main office or branch in more than one county; as of May 3, 1999, the field of membership of a credit union described in Subsection (2)(c)(i) is: the immediate family of a member of the credit union; the employees of the credit union; residents of the credit union's domicile-county; the residents of any county other than the domicile-county: if, as of January 1, 1999, the county is in the field of membership of the credit union; and in which, as of January 1, 1994, the credit union had located its main office or a branch; and any association that as of January 1, 1999, is in the field of membership of the credit union.

Section 7-9-53(2)Verify source

§ 7-9-53(2)(a)Subsection 7-9-53(2)(a)Provision

Source excerpt

If the credit union’s bylaws as of January 1, 1999, comply with Section 7-9-51, the credit union’s field of membership is the field stated in its bylaws.

if the field of membership stated in the bylaws of the credit union as of January 1, 1999, complies with Section 7-9-51 , the credit union's field of membership is the field of membership indicated in its bylaws;

Section 7-9-53(2)(a)Verify source

§ 7-9-53(2)(b)Subsection 7-9-53(2)(b)Provision

Source excerpt

the field of membership of a credit union as of May 3, 1999, is as provided in Subsection (2)(b)(ii) if: the field of membership stated in the bylaws of the credit union as of January 1, 1999, includes the residents of more than one county; and as of January 1, 1999, the credit union's main office and any of its branches are located in only one county in its field of membership; as of May 3, 1999, the field of membership of a credit union described in Subsection (2)(b)(i) is: the immediate family of a member of the credit union; the employees of the credit union; residents of the one county in which the credit union has its main office or branches as of January 1, 1999; and any association that as of January 1, 1999, is in the field of membership of the credit union; and

Section 7-9-53(2)(b)Verify source

§ 7-9-53(2)(b)(i)Subsection 7-9-53(2)(b)(i)Provision

Source excerpt

Section 7-9-53(2)(b)(i)Verify source

§ 7-9-53(2)(b)(i)(A)Subsection 7-9-53(2)(b)(i)(A)Provision

Source excerpt

the field of membership stated in the bylaws of the credit union as of January 1, 1999, includes the residents of more than one county; and

Section 7-9-53(2)(b)(i)(A)Verify source

§ 7-9-53(2)(b)(i)(B)Subsection 7-9-53(2)(b)(i)(B)Provision

Source excerpt

as of January 1, 1999, the credit union's main office and any of its branches are located in only one county in its field of membership;

Section 7-9-53(2)(b)(i)(B)Verify source

§ 7-9-53(2)(b)(ii)Subsection 7-9-53(2)(b)(ii)Provision

Source excerpt

as of May 3, 1999, the field of membership of a credit union described in Subsection (2)(b)(i) is: the immediate family of a member of the credit union; the employees of the credit union; residents of the one county in which the credit union has its main office or branches as of January 1, 1999; and any association that as of January 1, 1999, is in the field of membership of the credit union; and

Section 7-9-53(2)(b)(ii)Verify source

§ 7-9-53(2)(b)(ii)(A)Subsection 7-9-53(2)(b)(ii)(A)Provision

Source excerpt

the immediate family of a member of the credit union;

Section 7-9-53(2)(b)(ii)(A)Verify source

§ 7-9-53(2)(b)(ii)(B)Subsection 7-9-53(2)(b)(ii)(B)Provision

Source excerpt

the employees of the credit union;

Section 7-9-53(2)(b)(ii)(B)Verify source

§ 7-9-53(2)(b)(ii)(C)Subsection 7-9-53(2)(b)(ii)(C)Provision

Source excerpt

Refers to residents of the one county where the credit union had its main office or branches on January 1, 1999.

residents of the one county in which the credit union has its main office or branches as of January 1, 1999; and

Section 7-9-53(2)(b)(ii)(C)Verify source

§ 7-9-53(2)(b)(ii)(D)Subsection 7-9-53(2)(b)(ii)(D)Provision

Source excerpt

This provision refers to any association that was, as of January 1, 1999, in the credit union’s field of membership.

any association that as of January 1, 1999, is in the field of membership of the credit union; and

Section 7-9-53(2)(b)(ii)(D)Verify source

§ 7-9-53(2)(c)Subsection 7-9-53(2)(c)Provision

Source excerpt

This provision sets when a credit union’s field of membership is treated as including certain counties, family members, employees, residents, and associations.

the field of membership of a credit union as of May 3, 1999, is as provided in Subsection (2)(c)(ii) if: the field of membership stated in the bylaws of the credit union as of January 1, 1999, includes the residents of more than one county; and as of January 1, 1999, the credit union has a main office or branch in more than one county; as of May 3, 1999, the field of membership of a credit union described in Subsection (2)(c)(i) is: the immediate family of a member of the credit union; the employees of the credit union; residents of the credit union's domicile-county; the residents of any county other than the domicile-county: if, as of January 1, 1999, the county is in the field of membership of the credit union; and in which, as of January 1, 1994, the credit union had located its main office or a branch; and any association that as of January 1, 1999, is in the field of membership of the credit union.

Section 7-9-53(2)(c)Verify source

§ 7-9-53(2)(c)(i)Subsection 7-9-53(2)(c)(i)Provision

Source excerpt

Section 7-9-53(2)(c)(i)Verify source

§ 7-9-53(2)(c)(i)(A)Subsection 7-9-53(2)(c)(i)(A)Provision

Source excerpt

the field of membership stated in the bylaws of the credit union as of January 1, 1999, includes the residents of more than one county; and

Section 7-9-53(2)(c)(i)(A)Verify source

§ 7-9-53(2)(c)(i)(B)Subsection 7-9-53(2)(c)(i)(B)Provision

Source excerpt

A credit union must have a main office or branch in more than one county as of January 1, 1999.

as of January 1, 1999, the credit union has a main office or branch in more than one county;

Section 7-9-53(2)(c)(i)(B)Verify source

§ 7-9-53(2)(c)(ii)Subsection 7-9-53(2)(c)(ii)Provision

Source excerpt

as of May 3, 1999, the field of membership of a credit union described in Subsection (2)(c)(i) is: the immediate family of a member of the credit union; the employees of the credit union; residents of the credit union's domicile-county; the residents of any county other than the domicile-county: if, as of January 1, 1999, the county is in the field of membership of the credit union; and in which, as of January 1, 1994, the credit union had located its main office or a branch; and any association that as of January 1, 1999, is in the field of membership of the credit union.

Section 7-9-53(2)(c)(ii)Verify source

§ 7-9-53(2)(c)(ii)(A)Subsection 7-9-53(2)(c)(ii)(A)Provision

Source excerpt

the immediate family of a member of the credit union;

Section 7-9-53(2)(c)(ii)(A)Verify source

§ 7-9-53(2)(c)(ii)(B)Subsection 7-9-53(2)(c)(ii)(B)Provision

Source excerpt

Refers to the employees of the credit union.

the employees of the credit union;

Section 7-9-53(2)(c)(ii)(B)Verify source

§ 7-9-53(2)(c)(ii)(C)Subsection 7-9-53(2)(c)(ii)(C)Provision

Source excerpt

residents of the credit union's domicile-county;

Section 7-9-53(2)(c)(ii)(C)Verify source

§ 7-9-53(2)(c)(ii)(D)Subsection 7-9-53(2)(c)(ii)(D)Provision

Source excerpt

This text identifies residents of a county other than the domicile-county, subject to two date-based conditions tied to credit union membership and office or branch location.

the residents of any county other than the domicile-county: if, as of January 1, 1999, the county is in the field of membership of the credit union; and in which, as of January 1, 1994, the credit union had located its main office or a branch; and

Section 7-9-53(2)(c)(ii)(D)Verify source

§ 7-9-53(2)(c)(ii)(D)(I)Subsection 7-9-53(2)(c)(ii)(D)(I)Provision

Source excerpt

if, as of January 1, 1999, the county is in the field of membership of the credit union; and

Section 7-9-53(2)(c)(ii)(D)(I)Verify source

§ 7-9-53(2)(c)(ii)(D)(II)Subsection 7-9-53(2)(c)(ii)(D)(II)Provision

Source excerpt

This text refers to a credit union having its main office or a branch located as of January 1, 1994.

in which, as of January 1, 1994, the credit union had located its main office or a branch; and

Section 7-9-53(2)(c)(ii)(D)(II)Verify source

§ 7-9-53(2)(c)(ii)(E)Subsection 7-9-53(2)(c)(ii)(E)Provision

Source excerpt

any association that as of January 1, 1999, is in the field of membership of the credit union.

Section 7-9-53(2)(c)(ii)(E)Verify source

§ 7-9-53(3)Subsection 7-9-53(3)Provision

Source excerpt

If a credit union's field of membership is as described in Subsection (2)(c) , beginning May 3, 1999, the credit union: within the credit union's domicile-county, may establish, relocate, or otherwise change the physical location of the credit union's: main office; or branch; within a county other than a domicile-county that is in the credit union's grandfathered field of membership, may not: establish a main office or branch that: was not located in the county as of January 1, 1999; or for which the credit union has not received by January 1, 1999, approval or conditional approval of a site plan for the main office or branch from the planning commission of the municipality where the main office or branch will be located; participate in a service center in which it does not participate as of January 1, 1999; relocate the credit union's main office or a branch located in the county as of January 1, 1999, unless the commissioner finds that the main office or branch is relocated within a three-mile radius of where it was originally located; or after a voluntary merger under Section 7-9-39 , operate a branch in the county if: the effective date of the merger is on or after May 5, 2003; the credit union with the field of membership described in Subsection (2)(c) is the surviving credit union after the merger; and the credit union did not own and operate the branch before the effective date of the merger; and may only admit as a member: a person in the credit union's grandfathered field of membership; or a person belonging to an association that: is added to the field of membership of the credit union; and resides in the domicile-county of the credit union.

Section 7-9-53(3)Verify source

§ 7-9-53(3)(a)Subsection 7-9-53(3)(a)Provision

Source excerpt

Within its domicile-county, a credit union may establish, relocate, or otherwise change the physical location of its main office or branch.

within the credit union's domicile-county, may establish, relocate, or otherwise change the physical location of the credit union's: main office; or branch;

Section 7-9-53(3)(a)Verify source

§ 7-9-53(3)(a)(i)Subsection 7-9-53(3)(a)(i)Provision

Source excerpt

main office; or

Section 7-9-53(3)(a)(i)Verify source

§ 7-9-53(3)(a)(ii)Subsection 7-9-53(3)(a)(ii)Provision

Source excerpt

branch;

Section 7-9-53(3)(a)(ii)Verify source

§ 7-9-53(3)(b)Subsection 7-9-53(3)(b)Provision

Source excerpt

A credit union may not do certain branch and office activities in a county outside its domicile-county grandfathered membership area.

within a county other than a domicile-county that is in the credit union's grandfathered field of membership, may not: establish a main office or branch that: was not located in the county as of January 1, 1999; or for which the credit union has not received by January 1, 1999, approval or conditional approval of a site plan for the main office or branch from the planning commission of the municipality where the main office or branch will be located; participate in a service center in which it does not participate as of January 1, 1999; relocate the credit union's main office or a branch located in the county as of January 1, 1999, unless the commissioner finds that the main office or branch is relocated within a three-mile radius of where it was originally located; or after a voluntary merger under Section 7-9-39 , operate a branch in the county if: the effective date of the merger is on or after May 5, 2003; the credit union with the field of membership described in Subsection (2)(c) is the surviving credit union after the merger; and the credit union did not own and operate the branch before the effective date of the merger; and

Section 7-9-53(3)(b)Verify source

§ 7-9-53(3)(b)(i)Subsection 7-9-53(3)(b)(i)Provision

Source excerpt

establish a main office or branch that: was not located in the county as of January 1, 1999; or for which the credit union has not received by January 1, 1999, approval or conditional approval of a site plan for the main office or branch

Section 7-9-53(3)(b)(i)Verify source

§ 7-9-53(3)(b)(i)(A)Subsection 7-9-53(3)(b)(i)(A)Provision

Source excerpt

was not located in the county as of January 1, 1999; or

Section 7-9-53(3)(b)(i)(A)Verify source

§ 7-9-53(3)(b)(i)(B)Subsection 7-9-53(3)(b)(i)(B)Provision

Source excerpt

for which the credit union has not received by January 1, 1999, approval or conditional approval of a site plan for the main office or branch from the planning commission of the municipality where the main office or branch will be located;

Section 7-9-53(3)(b)(i)(B)Verify source

§ 7-9-53(3)(b)(ii)Subsection 7-9-53(3)(b)(ii)Provision

Source excerpt

participate in a service center in which it does not participate as of January 1, 1999;

Section 7-9-53(3)(b)(ii)Verify source

§ 7-9-53(3)(b)(iii)Subsection 7-9-53(3)(b)(iii)Provision

Source excerpt

A credit union may relocate its main office or a branch in the county as of January 1, 1999, unless the commissioner finds the move is within three miles of the original location.

relocate the credit union's main office or a branch located in the county as of January 1, 1999, unless the commissioner finds that the main office or branch is relocated within a three-mile radius of where it was originally located; or

Section 7-9-53(3)(b)(iii)Verify source

§ 7-9-53(3)(b)(iv)Subsection 7-9-53(3)(b)(iv)Provision

Source excerpt

A branch may be operated in the county after a voluntary merger under Section 7-9-39 if the merger date is on or after May 5, 2003, the credit union with the specified field of membership survives the merger, and the credit union did not already own and operate the branch before the merger.

after a voluntary merger under Section 7-9-39 , operate a branch in the county if: the effective date of the merger is on or after May 5, 2003; the credit union with the field of membership described in Subsection (2)(c) is the surviving credit union after the merger; and the credit union did not own and operate the branch before the effective date of the merger; and

Section 7-9-53(3)(b)(iv)Verify source

§ 7-9-53(3)(b)(iv)(A)Subsection 7-9-53(3)(b)(iv)(A)Provision

Source excerpt

The merger’s effective date must be on or after May 5, 2003.

the effective date of the merger is on or after May 5, 2003;

Section 7-9-53(3)(b)(iv)(A)Verify source

§ 7-9-53(3)(b)(iv)(B)Subsection 7-9-53(3)(b)(iv)(B)Provision

Source excerpt

the credit union with the field of membership described in Subsection (2)(c) is the surviving credit union after the merger; and

Section 7-9-53(3)(b)(iv)(B)Verify source

§ 7-9-53(3)(b)(iv)(C)Subsection 7-9-53(3)(b)(iv)(C)Provision

Source excerpt

the credit union did not own and operate the branch before the effective date of the merger; and

Section 7-9-53(3)(b)(iv)(C)Verify source

§ 7-9-53(3)(c)Subsection 7-9-53(3)(c)Provision

Source excerpt

The credit union may admit a member only if the person fits the listed membership conditions.

may only admit as a member: a person in the credit union's grandfathered field of membership; or a person belonging to an association that: is added to the field of membership of the credit union; and resides in the domicile-county of the credit union.

Section 7-9-53(3)(c)Verify source

§ 7-9-53(3)(c)(i)Subsection 7-9-53(3)(c)(i)Provision

Source excerpt

Refers to a person in the credit union’s grandfathered field of membership.

a person in the credit union's grandfathered field of membership; or

Section 7-9-53(3)(c)(i)Verify source

§ 7-9-53(3)(c)(ii)Subsection 7-9-53(3)(c)(ii)Provision

Source excerpt

a person belonging to an association that: is added to the field of membership of the credit union; and resides in the domicile-county of the credit union.

Section 7-9-53(3)(c)(ii)Verify source

§ 7-9-53(3)(c)(ii)(A)Subsection 7-9-53(3)(c)(ii)(A)Provision

Source excerpt

is added to the field of membership of the credit union; and

Section 7-9-53(3)(c)(ii)(A)Verify source

§ 7-9-53(3)(c)(ii)(B)Subsection 7-9-53(3)(c)(ii)(B)Provision

Source excerpt

resides in the domicile-county of the credit union.

Section 7-9-53(3)(c)(ii)(B)Verify source

§ 7-9-53(4)Subsection 7-9-53(4)Provision

Source excerpt

If the credit union’s field of membership matches Subsection (2)(b) as of May 3, 1999, it may operate as a credit union under Section 7-9-51.

If a credit union's field of membership is as described in Subsection (2)(b) , as of May 3, 1999, the credit union may operate as a credit union having a field of membership under Section 7-9-51 .

Section 7-9-53(4)Verify source

§ 7-9-53(5)Subsection 7-9-53(5)Provision

Source excerpt

A qualifying credit union may keep operating an existing office or branch and may serve certain members, but it may not open a branch in a disallowed county or add certain associations to membership.

Notwithstanding Subsections (1) through (4) , after May 3, 1999, a credit union described in Subsection (2)(c) may: operate an office or branch that is operated by the credit union on May 3, 1999, but that is not located in a county that is in the credit union's field of membership as of May 3, 1999; and serve a member who is not in a credit union's field of membership as of May 3, 1999, if the member is a member of the credit union as of March 15, 1999. Subsection (5)(a) does not authorize a credit union to: establish a branch in a county that is not in the credit union's field of membership as of May 3, 1999, unless the branch meets the requirements under this title for establishing a branch; or for a credit union described in Subsection (2)(c) , include in its field of membership an association that: as of January 1, 1999, is not included in the credit union's field of membership; and does not reside within the credit union's domicile-county.

Section 7-9-53(5)Verify source

§ 7-9-53(5)(a)Subsection 7-9-53(5)(a)Provision

Source excerpt

Section 7-9-53(5)(a)Verify source

§ 7-9-53(5)(a)(i)Subsection 7-9-53(5)(a)(i)Provision

Source excerpt

operate an office or branch that is operated by the credit union on May 3, 1999, but that is not located in a county that is in the credit union's field of membership as of May 3, 1999; and

Section 7-9-53(5)(a)(i)Verify source

§ 7-9-53(5)(a)(ii)Subsection 7-9-53(5)(a)(ii)Provision

Source excerpt

serve a member who is not in a credit union's field of membership as of May 3, 1999, if the member is a member of the credit union as of March 15, 1999.

Section 7-9-53(5)(a)(ii)Verify source

§ 7-9-53(5)(b)Subsection 7-9-53(5)(b)Provision

Source excerpt

A credit union may not open a branch in a county outside its May 3, 1999 field of membership unless the branch satisfies the title’s branch requirements. A credit union described in Subsection (2)(c) may not add an association to its field of membership if, on January 1, 1999, the association was not already included and it does not reside in the credit union’s domicile-county.

Subsection (5)(a) does not authorize a credit union to: establish a branch in a county that is not in the credit union's field of membership as of May 3, 1999, unless the branch meets the requirements under this title for establishing a branch; or for a credit union described in Subsection (2)(c) , include in its field of membership an association that: as of January 1, 1999, is not included in the credit union's field of membership; and does not reside within the credit union's domicile-county.

Section 7-9-53(5)(b)Verify source

§ 7-9-53(5)(b)(i)Subsection 7-9-53(5)(b)(i)Provision

Source excerpt

establish a branch in a county that is not in the credit union's field of membership as of May 3, 1999, unless the branch meets the requirements under this title for establishing a branch; or

Section 7-9-53(5)(b)(i)Verify source

§ 7-9-53(5)(b)(ii)Subsection 7-9-53(5)(b)(ii)Provision

Source excerpt

A qualifying credit union must include a specified association in its field of membership if the association was not already included on January 1, 1999 and does not reside in the credit union’s domicile county.

for a credit union described in Subsection (2)(c) , include in its field of membership an association that: as of January 1, 1999, is not included in the credit union's field of membership; and does not reside within the credit union's domicile-county.

Section 7-9-53(5)(b)(ii)Verify source

§ 7-9-53(5)(b)(ii)(A)Subsection 7-9-53(5)(b)(ii)(A)Provision

Source excerpt

as of January 1, 1999, is not included in the credit union's field of membership; and

Section 7-9-53(5)(b)(ii)(A)Verify source

§ 7-9-53(5)(b)(ii)(B)Subsection 7-9-53(5)(b)(ii)(B)Provision

Source excerpt

does not reside within the credit union's domicile-county.

Section 7-9-53(5)(b)(ii)(B)Verify source

§ 7-9-53(6)Subsection 7-9-53(6)Amendment

Source excerpt

A credit union must amend its bylaws to comply with Section 7-9-11 by August 3, 1999.

A credit union shall amend its bylaws in accordance with Section 7-9-11 by no later than August 3, 1999, to comply with this section.

Section 7-9-53(6)Verify source

§ 7-9-53(7)Subsection 7-9-53(7)Provision

Source excerpt

A credit union must follow the title’s requirements for establishing, relocating, or changing the physical location of a main office or branch, in addition to any requirements in this section.

In addition to any requirement under this section, a credit union shall comply with any requirement under this title for the establishment, relocation, or change in the physical location of a main office or branch of a credit union.

Section 7-9-53(7)Verify source

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Utah Code § 7-9-53, 1999

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