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23-35-610. Establishment of subsidiary offices.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-35-610. Establishment of subsidiary offices.
(a) A credit union shall have the power to establish offices at locations other than its main office if the maintenance of those offices is reasonably necessary to furnish services to its membership. No additional offices shall be established to serve persons who are not entitled to membership, as defined in the common bond provision of the articles of incorporation, and who would not be entitled to services of the credit union at its main office.
(b) All books of account shall be maintained at the main office of the credit union.
(c) The State Credit Union Supervisor shall grant prior written approval for the establishment of subsidiary offices. He or she shall have the authority to issue notice and hold a public hearing to determine if the establishment of the subsidiary office or offices is necessary and in the best interests of the credit union.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-35-610
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-35-610
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 9fef41533cca49ff3c95f3368f8637fec4e04c3f8ee01111c1e54b1d37ec2d59
Source location: content.xml paragraph 16767
Stored source content
23-35-610. Establishment of subsidiary offices.
(a) A credit union shall have the power to establish offices at locations other than its main office if the maintenance of those offices is reasonably necessary to furnish services to its membership. No additional offices shall be established to serve persons who are not entitled to membership, as defined in the common bond provision of the articles of incorporation, and who would not be entitled to services of the credit union at its main office.
(b) All books of account shall be maintained at the main office of the credit union.
(c) The State Credit Union Supervisor shall grant prior written approval for the establishment of subsidiary offices. He or she shall have the authority to issue notice and hold a public hearing to determine if the establishment of the subsidiary office or offices is necessary and in the best interests of the credit union.
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