12 U.S.C. § 1758

Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)

Section 1758 - Bylaws

In order to simplify the organization of Federal credit unions the Board shall from time to time cause to be prepared a form of organization certificate and a form of bylaws, consistent with this chapter, which shall be used by Federal credit union incorporators, and shall be supplied to them on request. At the time of presenting the organization certificate the incorporators shall also submit proposed bylaws to the Board for its approval.

12 U.S.C. § 1758

June 26, 1934, ch. 750, title I, §108, formerly §8, 48 Stat. 1219; 1947 Reorg. Plan No. 1, §401, eff. July 1, 1947, 12 F.R. 4534, 61 Stat. 952; June 29, 1948, ch. 711, §§1, 2, 62 Stat. 1091; renumbered §9 and amended Pub. L. 86-354 §1, Sept. 22, 1959, 73 Stat. 631; Pub. L. 91-206 §2(1), Mar. 10, 1970, 84 Stat. 49; renumbered title I, §108, Pub. L. 91-468 §1(2), Oct. 19, 1970, 84 Stat. 994; amended Pub. L. 95-630 §502(b), Nov. 10, 1978, 92 Stat. 3681.

EDITORIAL NOTES

AMENDMENTS1978- Pub. L. 95-630 substituted "Board" for "Administrator" in two places, and "its approval" for "his approval".1970- Pub. L. 91-206 substituted "Administrator" for "Director" in two places. 1959- Pub. L. 86-354 substituted "from time to time" for ", upon the passage of this Act,".

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATE OF 1978 AMENDMENT Amendment by Pub. L. 95-630 effective on expiration of 120 days after Nov. 10, 1978, and transitional provisions, see section 509 of Pub. L. 95-630 set out as a note under section 1752 of this title.

EXECUTIVE DOCUMENTS

TRANSFER OF FUNCTIONSTransfer of functions of Farm Credit Administration and Governor thereof, generally, see notes set out under section 1751 of this title.Functions of Governor of Farm Credit Administration under this section transferred to Federal Deposit Insurance Corporation by Reorg. Plan No. 1 of 1947.

Director

The term "Director" means the Director of the Bureau.

credit

The term "credit" means the right granted by a person to a consumer to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment for such purchase.