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Can you summarize GARR Chapter 80-2?
RULES OF DEPARTMENT OF BANKING AND FINANCE. > CREDIT UNIONS
Short Summary
The provided legal document content covers various aspects of credit union operations in the State of Georgia. It includes guidelines for accounting procedures and record-keeping, group sales promotions, issuance of Certificates of Deposit, fidelity bond coverage, supervisory audits, credit union service contracts, investment securities, voting procedures, credit union loans, and transactions and applications related to credit unions. The documents ensure that credit unions maintain accurate and comprehensive records, comply with regulations for group sales promotions, issue Certificates of Deposit with fixed terms, provide fidelity bond coverage, undergo supervisory audits, establish service contracts, make appropriate investments, follow voting procedures, adhere to lending limitations, and follow proper procedures for transactions and applications. The documents apply to credit unions, their members, officers, directors, employees, financial institutions, and third party service providers. No specific exemptions or penalties are mentioned in the documents.
Whom does it apply to?
Credit unions in the State of Georgia, credit union members, credit union officers, directors, employees, committee members, financial institutions, third party service providers
What does it govern?
Accounting procedures and record-keeping, group sales promotions, issuance of Certificates of Deposit, fidelity bond coverage, supervisory audits, credit union service contracts, investment securities, voting procedures, credit union loans, transactions and applications related to credit unions
What are exemptions?
No specific exemptions are mentioned in the documents.
What are the Penalties?
No specific penalties are mentioned in the documents.
Jurisdiction
Georgia