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Can you summarize NJST Chapter 17:13?
CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE >
Short Summary
The provided legal document content consists of various sections and provisions related to the establishment, governance, operations, and supervision of credit unions in New Jersey. The documents cover a wide range of topics, including the incorporation and chartering of credit unions, membership requirements, powers and authorities of credit unions, governance structure, board of directors, committees, and officers, examination and supervision by the commissioner, financial reporting and audits, loans and lending practices, reserves and dividends, withdrawal of funds, mergers, investments, and compliance with state and federal laws. The documents also address the possession of property and business by the commissioner, liquidation and dissolution of credit unions, insurance requirements, and the establishment of a corporate central credit union. While the documents provide detailed guidelines and regulations for credit unions, they do not specify any specific penalties for non-compliance or violation of their provisions. It is important for credit unions and their members to adhere to these regulations to ensure compliance with the law and maintain the stability and integrity of the credit union system in New Jersey.
Whom does it apply to?
The documents apply to credit unions operating in New Jersey, their members, directors, officers, employees, and other individuals or entities involved in credit union transactions.
What does it govern?
The legal document governs the operations and regulations of credit unions in New Jersey, including their establishment, membership, governance, powers, supervision, examination, and dissolution.
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
The documents do not specify any specific penalties for non-compliance or violation of their provisions.
Jurisdiction
New Jersey