reglab/housing_qa huggingface dataset:
WV Code § 31C-5-10 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 5. Direction of Credit Union Affairs|§31C-5-10. Suspension and Removal of Officials

(a) The supervisory committee by a two-thirds vote of the entire committee may suspend any member of the credit committee and shall report such action to the credit union's board of directors. The credit union's board of directors shall meet not less than seven nor more than twenty-one days after such suspension to take appropriate action.(b) The supervisory committee by a two-thirds vote of the entire committee may recommend suspension of any officer or member of the credit union's board of directors. A meeting of a quorum of the remaining board members shall convene in person and take action on the recommendation, which meeting shall be held not less than seven nor more than twenty-one days after such proposed suspension. The suspension matter shall be acted upon at the board meeting and the person shall either be removed for cause or restored to office. If the supervisory committee is not satisfied with the board's action, it may call a special meeting of the members or elect to bring the matter before the next member's regular meeting, and the issue will be acted upon at the meeting by the members and the person shall either be removed for cause, or reaffirmed to office. At any such member's meeting the person at issue shall have the right to appear and be heard.(c) Any member of the supervisory committee or of the credit committee may be suspended or removed for cause by the board of directors by a two-thirds vote of those present at a meeting for failure to perform duties in accordance with this chapter, the articles of incorporation or the bylaws. The committee member shall have the right to appear and be heard at such meeting.
WV Code § 31C-5-11 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 5. Direction of Credit Union Affairs|§31C-5-11. Inspection of Books and Records by Members

(a) Each credit union shall keep at its principal office in this state a record of the names and addresses of its members entitled to vote. A credit union shall keep correct and complete books and records of account and shall keep minutes of the proceedings of its members, board of directors and committees having any of the authority of the board of directors. Any member or group of members of a credit union, upon making a demand stating a proper purpose, shall have the right to examine, in person or by agent or attorney, at any reasonable time or times, nonconfidential portions of its books and records of account, minutes and records of members and to make extracts therefrom.(b) The right to examination authorized by subsection (a) of this section and any right to inspect the list of members provided by a credit union's bylaws to an extent greater than that provided by this section may be denied to any member or group of members upon the refusal of any such member or group of members to furnish the credit union with an affidavit that such examination or inspection is not desired for any purpose which is in the interest of a business or object other than the business of the credit union.(c) Notwithstanding any provision of this section or common law, no member or group of members shall have the right to obtain, inspect or copy any portion of any books or records of a credit union containing:(1) Individual deposit or loan balances or records regarding other credit union members or information respecting their personal affairs; or(2) Any data from which such information could be reasonably constructed.(d) For purposes of this section, a confidential record includes, but is not limited to, the following:(1) Any document or information relating to a nonpublic market strategy or plan of the credit union;(2) Any document or information relating to matters declared confidential under state or federal law, including, but not limited to, credit union regulatory reports; and(3) Any document or information deemed by the credit union as proprietary relating to the loan policy established by the credit union.
WV Code § 31C-6-1 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 6. Accounts|§31C-6-1. Share Accounts and Membership Shares

(a) Share accounts and membership shares (if any) shall be subscribed to and paid for in such a manner as the bylaws prescribe.(b) A corporate credit union may require its members to subscribe to and make payments on membership shares.(c) The par value of shares and any membership shares shall be as prescribed in the bylaws. Par value of shares shall not be less than $1 nor more than $10 per share.(d) Membership shares may not be pledged as security on any loan.(e) A credit union may limit the number of shares which may be owned by a member, but any such limit shall apply alike to all members.
WV Code § 31C-6-2 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 6. Accounts|§31C-6-2. Dividends

(a) The credit union's board of directors shall establish the dividend period. Rates of dividends and the terms of payment may be established in advance by action of the board of directors. Dividends may be paid at various rates with due regard to the conditions that pertain to each type of account such as minimum balance, notice and time requirements.(b) The commissioner may, if circumstances warrant, establish the maximum dividend that a credit union or corporate credit union may pay in each classification of its savings.
WV Code § 31C-6-3 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 6. Accounts|§31C-6-3. Deposit Accounts

(a) A credit union may accept deposit accounts from its members, other credit unions and governmental units subject to the terms, rates and conditions established by the board of directors.(b) Interest may be paid on deposit accounts at various rates with due regard to the conditions that pertain to each type of account such as minimum balance, notice and time requirements.(c) Funds in share and deposit accounts may be withdrawn for payment to the account holder or to third parties, in such manner and in accordance with such procedures as are established by the board of directors, subject to any rules the commissioner prescribes.(d) Share and deposit accounts shall be subject to any withdrawal notice requirement which is imposed pursuant to the bylaws.(e) A membership share may not be redeemed or withdrawn except subject to the terms set forth by the corporate credit union.
WV Code § 31C-6-4 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 6. Accounts|§31C-6-4. Minor Accounts

Payments on share and deposit accounts may be received from a minor who may withdraw funds from such accounts including the dividends and interest thereon. Payments on share and deposit accounts by a minor and withdrawals thereof by the minor shall be valid in all respects. For such purposes a minor is deemed of full majority age.
WV Code § 31C-6-5 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 6. Accounts|§31C-6-5. Joint Accounts

(a) A member may designate any person or persons to own a share or deposit account with the member in joint tenancy with the right of survivorship, as a tenant in common or under any other form of joint ownership permitted by law, but no co-owner, unless a member in own their right, shall be permitted to vote, obtain loans, or hold office or be required to pay a membership fee.(b) Payment of part or all of such accounts to any of the co-owners shall, to the extent of such payment, discharge the liability to all unless: (1) The account agreement contains a prohibition or limitation on such payment; or unless (2) the credit union had received notice in writing signed by any one of such joint tenants not to pay such deposit in accordance with the terms thereof, prior to its payment. The commissioner may promulgate rules regarding notice to joint account holders of their rights and liabilities under this section.
WV Code § 31C-6-6 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 6. Accounts|§31C-6-6. Trust Accounts

(a) Share and deposit accounts may be owned by a member in trust for a beneficiary, or owned by a nonmember in trust for a beneficiary who is a member.(b) Beneficiaries may be minors, but no beneficiary unless a member in that person's own right, shall be permitted to vote, obtain loans, hold office or be required to pay a membership fee.(c) Payment of part or all of such a trust account to the party in whose name the account is held shall, to the extent of such payment, discharge the liability of the credit union to that party and to the beneficiary, and the credit union shall be under no obligation to see to the application of such payment.(d) In the event of the death of the party who owns a trust account, if the credit union has been given no other written notice of the existence or terms of any trust and has not received a court order as to disposition of the account, account funds and any dividends or interest thereon shall be paid to the beneficiary.(e) The operation of trust accounts as permitted in this section does not constitute engaging in a trust business as set forth in chapter thirty-one-a of this code.
WV Code § 31C-6-7 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 6. Accounts|§31C-6-7. Payable-on-Death Accounts

Notwithstanding any other provision of law a credit union may establish share and deposit accounts payable to one or more persons during their lifetimes and on the death of all of them to one or more payable-on-death payees. An account established under this section must be identified as a "payable-on-death" account or abbreviated as a "p.o.d." account. Any transfer to a payable-on-death payee is effective by reason of the account contract and shall not be considered to be a testamentary transfer.
WV Code § 31C-6-8 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 6. Accounts|§31C-6-8. Liens

The credit union shall have a general lien on the share accounts, any membership shares, and accumulated dividends of a member for any sum owed the credit union by said member and for any loan endorsed by that member. The credit union shall also have a right of immediate set-off with respect to every deposit account. The credit union may also refuse to allow withdrawals from any share or deposit account. The credit union may waive its rights to a lien, to immediate set-off, to restrict withdrawals, or to any combination of such rights with respect to any share or deposit account or groups of such accounts.
WV Code § 31C-6-9 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 6. Accounts|§31C-6-9. Share and Deposit Insurance

(a) Before the incorporators of a credit union forward the corporate documents to the commissioner under subsection (d), section two, article two of this chapter they shall apply for insurance on share and deposit accounts from the national credit union administration under Title II of the Federal Credit Union Act (12 U.S.C. §1781 et seq.).(b) A credit union which has lost its commitment for such insurance shall within thirty days commence steps to either liquidate, or merge with an insured credit union or apply in writing to the commissioner for additional time to obtain another insurance commitment. The commissioner may grant one or more extensions of time to obtain the insurance commitment upon satisfactory evidence that the credit union has made or is making a substantial effort to achieve the conditions precedent to issuance of the commitment.(c) No persons shall be granted a certificate of authority to engage in business by the commissioner to operate a credit union unless they have obtained a commitment for insurance of its share and deposit accounts.(d) The commissioner may make available reports of condition and examination findings to the appropriate insuring organization and may accept any report of examination made on behalf of such organization.(e) A state-chartered corporate credit union must only apply for and maintain share and deposit insurance in the amounts and of the same kind as would be required for a similarly situated federally chartered corporate credit union.
WV Code § 31C-6-10 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 6. Accounts|§31C-6-10. Reduction in Shares

(a) Whenever the losses of any credit union, resulting from a depreciation in value of its loans or investments or otherwise, exceed the aggregate of its undivided earnings, reserves and membership shares if any, so that the estimated value of its assets is less than the total amount of share accounts, and the board of directors determines that the credit union may be subject to involuntary liquidation, the credit union board may propose a reduction in shares. The credit union may by a three-fourths majority vote of those voting on the proposition order a reduction in the share accounts of each of its shareholders to divide the loss in proportion to the shareholdings held by shareholders in their respective share accounts.(b) If the credit union thereafter realizes from such assets a greater amount than was fixed by the order of reduction, such excess shall be proportionately restored to the shareholders whose assets were reduced, but only to the extent of such reduction.
WV Code § 31C-7-1 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 7. Loans|§31C-7-1. Purpose and Conditions of Loans

A credit union may loan to members for such purposes and upon such conditions as the bylaws may provide. The board of directors shall establish written policies with respect to the granting of loans and the extending of lines of credit, including the terms, conditions and acceptable forms of security.
WV Code § 31C-7-2 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 7. Loans|§31C-7-2. Finance Charge

The finance charges imposed by the credit union on loans shall be determined by the credit union's board of directors, subject to the limitations established by this state. Unless otherwise permitted or prescribed by this code, the finance charge rate shall not exceed one and one-half percent per month, computed on unpaid balances.
WV Code § 31C-7-3 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 7. Loans|§31C-7-3. Additional Charges

(a) In addition to interest on loans, a credit union may charge members reasonable expenses in connection with the making, closing, disbursing, extending or renewing of loans.(b) A credit union may assess charges to members, in accordance with the bylaws, for failure to meet their obligations to the credit union in a timely manner. A credit union may also assess charges for other benefits, including insurance, as allowed for lenders under law.(c) Any charges in connection with a consumer loan, including late charges and deferral charges, permitted under this section shall conform and be limited to those allowed under article three, chapter forty-six-a of this code.
WV Code § 31C-7-4 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 7. Loans|§31C-7-4. Applications

Except as provided for in section six, article seven of this chapter, every application for a loan shall be made in writing upon a form prescribed by the credit union and shall state the purpose of the loan as well as the security or collateral offered, if any. Each loan shall be evidenced by a written document.
WV Code § 31C-7-5 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 7. Loans|§31C-7-5. Loan Limit; Collateral Requirements; and Repayment

(a) The aggregate of loans to any one member shall be limited to ten percent of the credit union's assets. This limit shall not apply to loans which are fully secured by assignments of shares or deposits in the credit union.(b) Loans to members which in the aggregate exceed the amount shown in the schedule below shall be secured by such collateral having a value which is at least equal to any amount exceeding the limits in the following schedule, except that all loans exceeding $5,000 not subject to collateral shall be supported by a sworn financial statement:(1) Five hundred dollars, in credit unions with assets of less than $5,000;(2) One thousand dollars in credit unions with assets of $5,000 and less than $25,000;(3) Two thousand dollars in credit unions with assets of $25,000 and less than $100,000;(4) Five thousand dollars in credit unions with assets of $100,000 and less than $500,000;(5) Seven thousand dollars in credit unions with assets of $500,000 and less than $1 million; and(6) Ten thousand dollars in credit unions with assets of $1 million or more: Provided, That the commissioner may, upon request and at his or her discretion, approve in writing a higher unsecured loan limit amount for credit unions having assets of $1 million or more.(c) A borrower may pay the whole or part of the borrower's loan on any day the credit union is open for business.
WV Code § 31C-7-6 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 7. Loans|§31C-7-6. Line of Credit

(a) Upon written application by a member, the credit committee or loan officer may approve a line of credit, and loan advances may be granted to the member within the limit of such line of credit. Access to the line of credit may be by use of a lender credit card. Where a line has been approved, no additional credit application is required as long as the aggregate indebtedness does not exceed the approved limit.(b) Lines of credit shall be subject to periodic review by the credit union, in accordance with the written policies of the credit union's board of directors, and approved or disapproved as to the granting of further loan advances.
WV Code § 31C-7-7 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 7. Loans|§31C-7-7. Participation Loans

A credit union may participate in loans to credit union members jointly with other credit unions, credit union organizations or other organizations pursuant to written policies established by the credit union's board of directors. A credit union which originates such a loan shall retain an interest of at least ten percent of the face amount of the loan.
WV Code § 31C-7-8 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 7. Loans|§31C-7-8. Other Loan Programs

(a) A credit union may participate in any guaranteed loan program of the federal or state government under the terms and conditions specified in the law under which such a program is provided.(b) A credit union may purchase the conditional sales contracts, notes and similar instruments of its members.(c) A credit union may finance for any person the sale of its personal property, including property obtained as a result of defaults in obligations owed to it, under the terms, conditions and rates provided by this chapter.
WV Code § 31C-7-9 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 7. Loans|§31C-7-9. Loans to Officials

(a) A credit union may permit officers, directors, and members of its supervisory and credit committees to act as comakers, guarantors or endorsers of loans to other members, subject to the requirements of subsection (b) of this section.(b) A credit union may make loans to its officers, directors and members of its supervisory and credit committees: Provided, That:(1) The loan complies with all requirements of this chapter and is not on terms more favorable than those extended to other borrowers; and(2) The aggregate of loans to or guaranteed by all such officials combined, excepting those secured by shares or deposits, may not exceed twenty percent of the credit union's assets, and shall be shown in aggregate as a separate item in the reports rendered by the credit union and filed with the commissioner pursuant to section seven, article one of this chapter.(c) No credit union officer, director, or member of its supervisory or credit committee may participate in making a credit approval of a loan in which they have a self-interest. If any member of the credit committee makes an application to borrow money from the credit union or becomes surety for any other member whose application for a loan is under consideration, the supervisory committee shall appoint a substitute to act on the credit committee in place of that member, during the consideration of the application.
WV Code § 31C-8-1 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 8. Other Member Services|§31C-8-1. Insurance for Members

A credit union may purchase or make available credit life or other credit insurance for its members either on an individual or group basis.
WV Code § 31C-8-2 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 8. Other Member Services|§31C-8-2. Indemnification of Officers

A credit union may indemnify its officers, directors or employees by purchase of insurance or otherwise, to the extent that such indemnification is permitted to that institution under federal law. Indemnification articles or bylaws must conform to, or be more restrictive than, that set forth in section nine, article one, chapter thirty-one of this code. The commissioner reserves the right to prohibit or limit, by regulation or order, any indemnification payment for reasons of safety and soundness or nonconformity to the credit union's articles of incorporation or bylaws or to the restrictions placed on indemnification contained in this section or other applicable state law.
WV Code § 31C-8-3 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 8. Other Member Services|§31C-8-3. Group Purchasing

A credit union may enter into marketing arrangements and joint ventures with other credit unions, organizations or financial institutions to facilitate its members' voluntary purchase of goods, insurance and other services from third parties, consistent with the purposes of the credit union. A credit union may be compensated for services so provided.
WV Code § 31C-8-4 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 8. Other Member Services|§31C-8-4. Money-Type Instruments

A credit union may collect, receive and disburse moneys in connection with the providing of negotiable checks, money orders, travelers' checks and other money-type instruments, and the providing of these services through automated teller machines (ATMs) and for such other purposes as may provide benefit or convenience to its members. A credit union may charge fees for such services.
WV Code § 31C-8-5 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 8. Other Member Services|§31C-8-5. Retirement Accounts and Trust Authority

A credit union may provide pension savings programs and deferred income accounts, including individual retirement accounts. In order to carry out its authority under this section, a credit union may:(a) Contract for the provision of trust services to its members with a trust company or other organization with trust powers authorized to do business in this state. For this purpose, the trust company or other organization with trust powers may serve credit union members at credit union facilities on a full-time or part-time basis; and (b) Act as trustees of member funds permitted by federal law to be deposited in a credit union in the form of share deposits either as a deferred compensation or tax-deferral device, provided the credit union obtains the prior approval to conduct such activity from the board of banking and financial institutions upon hearing and written order.
WV Code § 31C-9-1 (2021)
2021 West Virginia Code|Chapter 31C. Credit Unions|Article 9. Investments and Reserve Allocations|§31C-9-1. Investment and Deposit of Funds

(a) The credit union's board of directors shall have charge of the investment of funds, except that they may designate an investment committee or investment officer to make investments in its behalf, under written investment policies established by the credit union's board.(b) The credit union's board of directors shall designate a depository or depositories for the funds of the credit union.