Rhode Island § 19-5-23 - Credit Unions
Full text of Rhode Island Rhode Island General Laws § 19-5-23 — Credit Unions, with citation guidance and answers to common questions.
§ 19-5-23. Credit Unions
R.I. Gen. Laws § 19-5-23
§ 19-5-23. Conversion.
(a) A credit union may be converted into a federal credit union, and a federal credit union may be converted into a credit union, by complying with all the requirements of applicable federal and state law.
(b) A federal credit union shall become a credit union when its agreement to form has been approved by the director, or the director’s designee, under this chapter and when it has filed a copy of its agreement to form with the national credit union administration and complied with all other requirements of federal law.
(c) A credit union shall become a federal credit union upon the granting of a federal credit union charter to it and the completion of all other requirements of federal law necessary to be completed to become an operating federal credit union, and upon the filing with the director, or the director’s designee, a certified vote of the majority of the credit union members present at a meeting called, in accordance with the credit union’s bylaws, for the purpose of considering a conversion to a federal charter. The converting credit union shall then file with the director, or the director’s designee, a certified copy of the federal credit union charter and shall surrender its copy of its agreement to form, or file proof that the agreement to form has been lost.
History of Section.
P.L. 1995, ch. 82, § 43.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 19-5-23
What does Rhode Island General Laws § 19-5-23 cover?
Section 19-5-23 ("Credit Unions") is part of the Rhode Island General Laws, the codified statutory law of Rhode Island. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Rhode Island § 19-5-23?
A common citation format is "Rhode Island General Laws § 19-5-23" (Rhode Island). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Rhode Island law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Rhode Island official source linked on this page or consult a licensed Rhode Island attorney.
How does Rhode Island § 19-5-23 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Rhode Island can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Rhode Island.