Political Action Center for the Arizona Credit Union System

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Online Version of the Credit Union Code

Article 1	General Provisions
6-501	Definitions
6-502	Reports and examinations
6-503	Accounting and records
6-504	Advertising

Article 2	Formation of Credit Union
6-506	Organization procedure
6-507	Certificate of approval; filing with corporation commission; certificate of incorporation
6-508	Certificate of organization and bylaws
6-509	Exclusive use of name; exception
6-510	Principal place of business; branch office; automated teller machines
6-511	Out of state credit union
6-512	Fiscal year

Article 3	Powers of Credit Union
6-516	General powers
6-517	Federal parity

Article 4	Membership
6-521	Membership
6-522	Organization members
6-523	Membership applications
6-524	Termination of membership
6-525	Meetings of members
6-526	Calling of special meetings
6-527	Liability of members

Article 5	Direction of Affairs
6-531	Authority and responsibility of directors; voting
6-532	Election of board
6-533	Compensation of officials
6-534	Conflicts of interest
6-535	Officers
6-536	Executive committee
6-537	Certain duties of directors; insurance
6-538	Credit committee
6-539	Credit manager
6-540	Loan officers
6-541	Audits
6-542	Suspension and removal of officials

Article 6	Accounts
6-551	Share accounts
6-552	Dividends
6-553	Deposit accounts
6-554	Withdrawals
6-555	Minors' accounts
6-556	Multiple party accounts
6-557	Liens
6-558	Member account insurance

Article 7	Loans
6-561	Purpose and conditions of loans
6-562	Interest rates and other charges
6-563	Other loan programs
6-564	Loans to officials

Article 8	Other Member Services
6-571	Insurance for members
6-572	Group purchasing
6-573	Money type instruments
6-574	Retirement accounts

Article 9	Investments
6-576	Investment authority
6-577	Authorized investments

Article 10	Reserves
6-581	Transfers to regular reserve
6-582	Use of regular reserve
6-583	Special reserves

Article 11	Dissolutions
6-584	Voluntary dissolution
6-585	Involuntary dissolution
6-586	Distribution of assets of liquidating credit union

Article 12	Change in Corporate Status
6-587	Merger or consolidation of credit unions
6-588	Conversion of credit union

Article 13	Corporate Credit Union
6-591	Organization
6-592	Purposes; membership
6-593	Powers of corporate credit union; federal parity
6-594	Participation in central system
6-595	Reserves