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Can you summarize NCGS Chapter 54, Subchapter III?
Cooperative Organizations > CREDIT UNIONS.
Short Summary
The provided legal document content pertains to the incorporation, organization, and operation of credit unions in North Carolina. It covers various aspects such as membership eligibility, governance structure, bylaws, provision of services, inspection of records, fees, loans and lines of credit, loan participations, purchase and sale of eligible obligations, loans to other credit unions, acceptance of payments on shares, reimbursement and indemnification of officials and employees, occupancy and disposal of premises, borrowing of funds, authorities and duties of directors, notification of proposed changes, share accounts, and chartering and field of membership policies. These documents apply to credit unions operating in North Carolina, their members, officials, employees, and individuals or entities involved in transactions with credit unions. No specific exemptions or penalties are mentioned in the provided legal document content.
Whom does it apply to?
Credit unions operating in North Carolina, their members, officials, employees, and individuals or entities involved in transactions with credit unions
What does it govern?
The incorporation, operation, and regulation of credit unions in North Carolina
What are exemptions?
No specific exemptions are mentioned in the provided legal document content
What are the Penalties?
No specific penalties are mentioned in the provided legal document content
Jurisdiction
North Carolina