Oklahoma § 6-2007 - Membership - Central credit unions

§ 6-2007. Membership - Central credit unions

A. Credit union membership shall consist of the incorporators,

and such other persons and incorporated and unincorporated

organizations and their employees, as may be elected to membership.

Each member shall subscribe to at least one share of the credit

union’s stock and pay the entrance fee. Credit union membership

shall be limited to groups having a common bond of occupation or

association, which shall be limited to one of the following

categories:

1. Groups that have the same common bond of occupation or

association;

2. Persons or organizations within a well-defined community,

neighborhood or rural district; or

3. Groups which have, as to each individual group, a common

bond of occupation or association, but, as to all such groups, need

not have the same common bond of occupation or association as other

groups within the credit union.

B. A central credit union may be organized to which members of

existing credit unions operating in accordance with the law of the

State of Oklahoma, or of the United States, may belong, and to which

credit unions organized and operating under the State of Oklahoma or

of the United States may also belong.

Added by Laws 1941, p. 13, § 7. Amended by Laws 1974, c. 267, § 4.

Amended by Laws 2000, c. 77, § 3, emerg. eff. April 14, 2000.

NOTE: Laws 1974, c. 66, § 2 repealed by Laws 1974, c. 267, § 12.

Oklahoma Statutes - Title 6. Banks and Trust Companies