230 R.I. Code R. 230-RICR-40-05-3.3

Current through October 15, 2024
Section 230-RICR-40-05-3.3 - Definitions
A. Unless otherwise provided by this Regulation or unless the context clearly requires otherwise, terms used in this Regulation shall have the same meaning as the terms as defined in R.I. Gen. Laws §§ 19-1-1 and 19-5-1. All terms defined in R.I. Gen. Laws §§ 19-1-1 and 19-5-1 are capitalized in this Regulation
1. "Director" means the Director of the Department of Business Regulation or his or her designee
2. "Eligible Member", for purposes of this Regulation, means a member as defined in the Credit Union's by-laws and in the plan of conversion, as of a date designated in said plan of conversion which in no event shall be less than three (3) months prior to the date of adoption of said plan of conversion by the board of directors of the Credit Union.
3. "Resulting Financial Institution", for purposes of this regulation, means the institution into which the converting Credit Union converts as described in the plan of conversion.

230 R.I. Code R. 230-RICR-40-05-3.3