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Can you summarize RIGL Title 19, Chapter 5?
Financial institutions > Credit Unions
Short Summary
The provided legal document content covers various aspects of credit unions in the State of Rhode Island. It includes provisions governing the expulsion of members, conduct of savings promotion raffles, maintenance of liquidity reserves, engagement in authorized activities, permission for credit unions chartered in another state to do business in Rhode Island, severability of provisions, merger of credit unions, destruction of obsolete records, establishment of regular reserves, conversion of credit unions into federal credit unions and vice versa, borrowing and guaranty limits, tax exemption, declaration of dividends, compensation and loans to officers, purchase, sale, and pledge of eligible obligations and assets, powers and duties of the supervisory committee, appointment and duties of the credit committee, investment of funds, loan approval process, duplication of office, voting rights, and payment on shares or deposits in joint names. These documents apply to members, management, and officials of credit unions. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Members, management, and officials of credit unions
What does it govern?
Expulsion of members from a credit union, conduct of savings promotion raffles, maintenance of liquidity reserves, engagement in authorized activities, permission for credit unions chartered in another state to do business in Rhode Island, severability of provisions, merger of credit unions, destruction of obsolete records, establishment of regular reserves, conversion of credit unions into federal credit unions and vice versa, borrowing and guaranty limits, tax exemption, declaration of dividends, compensation and loans to officers, purchase, sale, and pledge of eligible obligations and assets, powers and duties of the supervisory committee, appointment and duties of the credit committee, investment of funds, loan approval process, duplication of office, voting rights, payment on shares or deposits in joint names
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Rhode Island