Section 13-03-14-02 - Field of membership expansion1. A North Dakota state-chartered credit union may expand its field of membership subject to approval of the state credit union board and in accordance with the provisions of this chapter and North Dakota Century Code chapter 6-06. 2. The state credit union board, when considering the expansion of a charter, shall consider the following: a. If the expansion is for an open charter, the exact geographical boundaries, expressed by city, county, township, or highway boundaries, or a stated radius from the principal or branch office, must be clearly spelled out; b. The negative impact to any other state or federally chartered credit union in the expanded area; c. Any expressed opposition to the expansion by any other credit union; d. The credit union must demonstrate the ability to succeed in expanding their field of membership; e. Relevant public comment in favor of or in opposition to expanding the field of membership; and f. Any other factor that the state credit union board deems pertinent. N.D. Admin Code 13-03-14-02
Effective April 1, 1988; amended effective October 1, 1997; January 1, 2007.General Authority: NDCC 6-01-04
Law Implemented: NDCC 6-06-06, 6-06-07