17-2203. Use of name; penalty for unauthorized use.
17-2203
17-2203. Use of name; penalty for unauthorized use.
(a) Only credit unions organized under the provisions of the act of which
this act is amendatory, credit unions organized pursuant to federal law,
an association of credit unions, or an organization, corporation or association
whose membership or ownership is restricted to credit unions or credit union
organizations may use any name or title which contains the words "credit
union" or any derivation thereof.
(b) Any other use by any person, copartnership, association or corporation
of any name or title which contains the words "credit union" or any derivation
thereof and any misrepresentation as a credit union or conducting of business
as a credit union by such entities shall be a class A misdemeanor and punishable
as such. The administrator, any credit union or any organization, corporation
or association of credit unions described in subsection (a)
of this section may petition a court of competent jurisdiction to enjoin
a violation of this section.
History: L. 1929, ch. 141, § 3; L. 1941, ch. 181, § 1; L. 1976,
ch. 105, § 1; L. 1982, ch. 103, § 1; July 1.