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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

221

:
ORGANIZATION AND MANAGEMENT OF CREDIT UNION






Subchapter

007
:
CORPORATE CREDIT UNIONS










 

§

31703. Membership

(a) Membership

in the corporate credit union may consist of Vermont-chartered credit unions,

any other state-chartered credit union, any federally chartered credit union,

organizations or associations of credit unions, and such other organizations

provided for in the articles of incorporation.

(b) A member of

the corporate credit union shall designate one person to be its authorized

representative to attend meetings of the corporate credit union and to vote on

behalf of the member. A credit union member of the corporate credit union may

only designate a member of its own credit union as its authorized

representative. No person may serve as the authorized representative of more

than one member of the corporate credit union. (Added 2005, No. 16, § 1, eff.

July 1, 2005.)