(1) Act uponapplications for membership or to appoint one or more membership officers toapprove applications for membership under such conditions as the boardprescribes. A record of a membership officer's approval or denial of membershipshall be available to the board of directors for inspection. A person deniedmembership by a membership officer may appeal the denial to the board;
(2) Purchase a blanketfidelity bond, in accordance with any rules and regulations of theAdministrator, to protect the credit union against losses caused by occurrencescovered therein such as fraud, dishonesty, forgery, embezzlement,misappropriation, misapplication, or unfaithful performance of duty by adirector, officer, employee, member of an official committee, attorney‑at‑lawor other agent;
(3) Determine from timeto time the interest rate or rates consistent with Articles 14A to 14L of thisChapter, which shall be charged on loans and to authorize interest refunds, ifany, to members from income earned and received in proportion to the interestpaid by them on such classes of loans and under such conditions as the boardprescribes;
(4) Fix from time totime the maximum amount which may be loaned to any one member;
(5) Declare dividends onshares in the manner and form as provided in the bylaws; and determine theinterest rate or rates which will be paid on deposits;
(6) Set the number ofshares and the amount of deposits which may be owned by a member, suchlimitations to apply alike to all members;
(7) Have charge of theinvestment of surplus funds, except that the board of directors may designatean investment committee or any qualified individual to have charge of makinginvestments under controls established by the board of directors;
(8) Authorize theemployment of such persons necessary to carry on the business of the creditunion;
(9) Authorize theconveyance of property;
(10) Borrow or lend moneyto carry on the functions of the credit union;
(11) Designate adepository or depositories for the funds of the credit union;
(12) Suspend any or allmembers of the credit or supervisory committee for failure to perform theirduties;
(13) Appoint any specialcommittees deemed necessary; and
(14) Perform such otherduties as the members from time to time direct, and perform or authorize anyaction not inconsistent with Articles 14A to 14L of this Chapter and notspecifically reserved by the bylaws for the members. (1915,c. 115, s. 10; C.S., s. 5234; 1957, c. 989, s. 5; 1965, c. 956, s. 20; 1973, c.199, s. 9; 1975, c. 538, s. 1.)
(1) Act uponapplications for membership or to appoint one or more membership officers toapprove applications for membership under such conditions as the boardprescribes. A record of a membership officer's approval or denial of membershipshall be available to the board of directors for inspection. A person deniedmembership by a membership officer may appeal the denial to the board;
(2) Purchase a blanketfidelity bond, in accordance with any rules and regulations of theAdministrator, to protect the credit union against losses caused by occurrencescovered therein such as fraud, dishonesty, forgery, embezzlement,misappropriation, misapplication, or unfaithful performance of duty by adirector, officer, employee, member of an official committee, attorney‑at‑lawor other agent;
(3) Determine from timeto time the interest rate or rates consistent with Articles 14A to 14L of thisChapter, which shall be charged on loans and to authorize interest refunds, ifany, to members from income earned and received in proportion to the interestpaid by them on such classes of loans and under such conditions as the boardprescribes;
(4) Fix from time totime the maximum amount which may be loaned to any one member;
(5) Declare dividends onshares in the manner and form as provided in the bylaws; and determine theinterest rate or rates which will be paid on deposits;
(6) Set the number ofshares and the amount of deposits which may be owned by a member, suchlimitations to apply alike to all members;
(7) Have charge of theinvestment of surplus funds, except that the board of directors may designatean investment committee or any qualified individual to have charge of makinginvestments under controls established by the board of directors;
(8) Authorize theemployment of such persons necessary to carry on the business of the creditunion;
(9) Authorize theconveyance of property;
(10) Borrow or lend moneyto carry on the functions of the credit union;
(11) Designate adepository or depositories for the funds of the credit union;
(12) Suspend any or allmembers of the credit or supervisory committee for failure to perform theirduties;
(13) Appoint any specialcommittees deemed necessary; and
(14) Perform such otherduties as the members from time to time direct, and perform or authorize anyaction not inconsistent with Articles 14A to 14L of this Chapter and notspecifically reserved by the bylaws for the members. (1915,c. 115, s. 10; C.S., s. 5234; 1957, c. 989, s. 5; 1965, c. 956, s. 20; 1973, c.199, s. 9; 1975, c. 538, s. 1.)
(1) Act uponapplications for membership or to appoint one or more membership officers toapprove applications for membership under such conditions as the boardprescribes. A record of a membership officer's approval or denial of membershipshall be available to the board of directors for inspection. A person deniedmembership by a membership officer may appeal the denial to the board;
(2) Purchase a blanketfidelity bond, in accordance with any rules and regulations of theAdministrator, to protect the credit union against losses caused by occurrencescovered therein such as fraud, dishonesty, forgery, embezzlement,misappropriation, misapplication, or unfaithful performance of duty by adirector, officer, employee, member of an official committee, attorney‑at‑lawor other agent;
(3) Determine from timeto time the interest rate or rates consistent with Articles 14A to 14L of thisChapter, which shall be charged on loans and to authorize interest refunds, ifany, to members from income earned and received in proportion to the interestpaid by them on such classes of loans and under such conditions as the boardprescribes;
(4) Fix from time totime the maximum amount which may be loaned to any one member;
(5) Declare dividends onshares in the manner and form as provided in the bylaws; and determine theinterest rate or rates which will be paid on deposits;
(6) Set the number ofshares and the amount of deposits which may be owned by a member, suchlimitations to apply alike to all members;
(7) Have charge of theinvestment of surplus funds, except that the board of directors may designatean investment committee or any qualified individual to have charge of makinginvestments under controls established by the board of directors;
(8) Authorize theemployment of such persons necessary to carry on the business of the creditunion;
(9) Authorize theconveyance of property;
(10) Borrow or lend moneyto carry on the functions of the credit union;
(11) Designate adepository or depositories for the funds of the credit union;
(12) Suspend any or allmembers of the credit or supervisory committee for failure to perform theirduties;
(13) Appoint any specialcommittees deemed necessary; and
(14) Perform such otherduties as the members from time to time direct, and perform or authorize anyaction not inconsistent with Articles 14A to 14L of this Chapter and notspecifically reserved by the bylaws for the members. (1915,c. 115, s. 10; C.S., s. 5234; 1957, c. 989, s. 5; 1965, c. 956, s. 20; 1973, c.199, s. 9; 1975, c. 538, s. 1.)
