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Can you summarize MOCS Title 20, Division 1100, Chapter 3?
DIVISION OF CREDIT UNIONS > Federal Insurance of Credit Union Member Accounts
Short Summary
The provided legal document acknowledges the statutory requirement for federal deposit insurance on all credit union member accounts. It states that every credit union is required to obtain and maintain deposit insurance from the National Credit Union Share Insurance Fund (NCUSIF). The document specifies that all applications for insurance should be submitted to the Division of Credit Unions for review and transmittal to the appropriate insurer. The authority for this requirement is section 370.100 of the RSMo 1994. The document also provides information about the filing history and amendments made to the rule. However, it does not mention any specific exemptions or penalties related to non-compliance or violation of the insurance requirement.
Whom does it apply to?
Every credit union
What does it govern?
Federal deposit insurance on all credit union member accounts
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Missouri