reglab/housing_qa huggingface dataset:
17 PA Cons Stat § 707 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 7 - Members, Directors and Officers|Section 707 - Duties of directors generally

§ 707. Duties of directors generally.  (a) General rule.--The directors of a credit union shall have general management of the affairs of the credit union and are specifically required:  (1) To act on applications for membership.  (2) To determine interest rates on loans.  (3) To fix the amount of the surety bond which shall be required of all officers and employees handling money which amount shall be not less than the minimum schedule established by the department.  (4) To declare dividends or recommend dividends as provided in the bylaws.  (5) To transmit or cause to be transmitted to the members all proposed amendments to the bylaws.  (6) If the bylaws provide for appointed credit or supervisory committees, to appoint individuals to serve on the credit committee or the supervisory committee and to fill vacancies in the board and in the credit committee until successors are duly chosen and qualified.  (7) To determine the maximum individual share holdings and, subject to the limitations contained in this title, the maximum individual loan which can be made with or without security.  (8) To have charge of investments, first mortgage loans and loans to other credit unions and Federal credit unions but not loans to members which are under the supervision of the credit committee as otherwise provided in this title. The board may, however, delegate to the credit committee the authority to approve some or all first mortgage loans and to an investment committee or qualified individual the authority to make all or some investments if the board first establishes guidelines and standards for the approval and making of such loans and investments in accordance with the policies of the board of directors.  (9) To fix the amount of compensation of directors, officers, committee members, loan officers and employees.  (10) To determine whether, to what extent and to what class or classes of borrowers, if any, an interest refund is to be made in any dividend period. Any such interest refund shall be paid in proportion to the interest paid by each borrower within any class during that dividend period.  (11) To appoint alternate credit committee members as needed to serve during incapacity or absence of the credit committee members.  (b) Notice of interest refund to department.--Immediately upon the board deciding to refund any interest pursuant to subsection (a)(10), notice of such decision and a copy of any board resolution and related documents shall forthwith be sent to the department. The department shall, within 30 days after receipt thereof, have the power to disapprove, for any reasonable cause stated in writing, any such interest refund. If the department does not disapprove the interest refund within 30 days, the interest refund shall become effective. (Dec. 9, 2002, P.L.1572, No.207, eff. 60 days)
17 PA Cons Stat § 708 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 7 - Members, Directors and Officers|Section 708 - Officers

§ 708. Officers. At their organizational meeting and within 30 days following each annual meeting of the members, the directors shall elect from their own number either a president and one or more vice presidents or a chairman and one or more vice chairmen, a treasurer and a secretary. The same individual may be both treasurer and secretary. The directors may appoint one or more assistant treasurers. The directors may appoint a membership officer from among the members of the credit union, other than the treasurer, an assistant treasurer or a loan officer. The directors may employ an officer in charge of operations, who shall be under the direction and control of the board or of the treasurer, as determined by the board of directors. The membership officer or the officer in charge shall have the authority to approve applications for membership under such conditions as the directors may prescribe. The membership officer or officer in charge so authorized shall submit to the directors at each monthly meeting a list of approved or pending applications for membership received since the previous monthly meeting, together with such other related information as the bylaws or the board may require.
17 PA Cons Stat § 709 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 7 - Members, Directors and Officers|Section 709 - Compensation of directors and officers

§ 709. Compensation of directors and officers. Members of the board of directors, the credit committee and the supervisory committee may be compensated if the credit union pays dividends to its members commensurate with prevailing market rates during the preceding year. A credit union shall be deemed to pay dividends commensurate with prevailing market rates if declared dividend rates on share accounts are competitive with dividend or interest rates offered by other credit unions, Federal credit unions or other financial institutions authorized to engage in the business of receiving money for deposit. The department may prohibit or regulate the payment of compensation of directors, committee members and officers, exclusive of the treasurer, if it deems such compensation excessive or if, in its opinion, the financial condition of the credit union is not such as to warrant the payment of such compensation. (Dec. 9, 2002, P.L.1572, No.207, eff. 60 days)
17 PA Cons Stat § 710 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 7 - Members, Directors and Officers|Section 710 - Executive committee

§ 710. Executive committee. The directors may appoint from their own number an executive committee of not less than three directors, who may be authorized to act for the board in all respects, subject to such conditions and limitations as prescribed by the board.
17 PA Cons Stat § 711 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 7 - Members, Directors and Officers|Section 711 - Procedures for approving service by certain persons

§ 711. Procedures for approving service by certain persons.  (a) General rule.--No person who has been convicted of a misdemeanor or a felony involving dishonesty, breach of trust or violation of this title or corresponding provisions of prior law may serve as an officer, director, committee member, employee, volunteer or agent of a credit union unless the person has or obtains the unanimous approval of the board of directors of the credit union.  (b) Disclosure statement.--Every officer, director, committee member and employee shall sign a sworn statement disclosing whether he has ever been convicted of a misdemeanor or a felony involving dishonesty, breach of trust or violation of this title or corresponding provisions of prior law. (Dec. 9, 2002, P.L.1572, No.207, eff. 60 days)  2002 Amendment. Act 207 amended subsec. (a).
17 PA Cons Stat § 712 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 7 - Members, Directors and Officers|Section 712 - Indemnification and exoneration from liability of directors and officers

§ 712. Indemnification and exoneration from liability of  directors and officers.  (a) Indemnification.--A credit union shall be governed by the provisions of 15 Pa.C.S. Ch. 17 Subch. D (relating to indemnification).  (b) Exoneration from liability of volunteer officers.-- Volunteer officers of Federal, State and out-of-State credit unions shall be entitled to the protection and rights set forth in 15 Pa.C.S. § 513 (relating to personal liability of directors) if the membership adopts a bylaw to that effect.  (c) Standard of care and personal liability of directors.-- See 15 Pa.C.S. §§ 512 (relating to standard of care and justifiable reliance) and 513.  Cross References. Section 712 is referred to in section 715 of this title.
17 PA Cons Stat § 715 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 7 - Members, Directors and Officers|Section 715 - Actions by members to enforce a secondary right

§ 715. Actions by members to enforce a secondary right.  (a) General rule.--In any action brought to enforce a secondary right on the part of one or more members against any officer or director or former officer or director of a credit union because the corporation refuses to enforce rights which may properly be asserted by it, the plaintiff or plaintiffs must aver and it must be made to appear that the plaintiff or each plaintiff was a member of the corporation at the time of the transaction of which he complains or that his membership devolved upon him by operation of law from a person who was a member at that time.  (b) Security for costs.--In any such action instituted or maintained by a holder or holders of less than 5% of the outstanding share accounts of the credit union, the credit union in whose right the action is brought shall be entitled, at any stage of the proceedings, to require the plaintiff or plaintiffs to give security for the reasonable expenses, including attorney fees, which may be incurred by it in connection therewith and for which it may become liable pursuant to section 712(a) (relating to indemnification) (but only insofar as relates to mandatory indemnification in actions by or in the right of the corporation), to which security the corporation shall have recourse in such amount as the court having jurisdiction shall determine upon the termination of the action. The amount of the security may, from time to time, be increased or decreased in the discretion of the court having jurisdiction of the action upon showing that the security provided has or may become inadequate or excessive.
17 PA Cons Stat § 901 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 9 - Amendment of Articles|Section 901 - Procedure for amendment of articles

§ 901. Procedure for amendment of articles.  The articles of incorporation may be amended at any regular or special meeting of the credit union, if notice of the meeting and of the proposed amendment or amendments is furnished each member at least ten days prior to the meeting at which such amendment or amendments will be considered. Notwithstanding statutory provisions to the contrary, the articles of incorporation may alternatively be amended by the members through mail ballot voting as provided in the bylaws. Amendments to the articles of incorporation must be approved by a majority of the members present at any meeting at which the amendments are considered or, in the case of a mail ballot, by a majority of the members responding by mail ballot. The proposed amendments shall be acted upon only in the event a quorum of the members, as provided in the bylaws, is present or, in the case of a mail ballot vote, a number of returned mail ballots equal to the quorum of the members, as provided in the bylaws, exists. (June 18, 2014, P.L.754, No.62, eff. 60 days)
17 PA Cons Stat § 902 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 9 - Amendment of Articles|Section 902 - Articles of amendment

§ 902. Articles of amendment. The articles of amendment shall be signed by an officer of the credit union and shall set forth:  (1) The name and principal place of business of the credit union.  (2) The amendment or amendments as adopted by the members.  (3) The date of the meeting at which the amendment, or amendments, was adopted.  (4) That notice of the meeting at which the amendment, or amendments, was considered was given to each member as provided in this title.  (5) That, at the meeting at which the amendment, or amendments, was considered, a quorum of the members was present as provided in the bylaws.  (6) That the amendment, or amendments, was approved by a majority of the members voting.
17 PA Cons Stat § 903 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 9 - Amendment of Articles|Section 903 - Filing and review of articles of amendment

§ 903. Filing and review of articles of amendment.  (a) General rule.--Articles of amendment shall be filed with the department. If the department finds that the articles of amendment conform to law, it shall endorse its approval thereon and forward the articles of amendment to the Department of State. Upon receipt of the articles of amendment, the Department of State shall file the same.  (b) Cross reference.--See 15 Pa.C.S. § 134 (relating to docketing statement). (Dec. 9, 2002, P.L.1572, No.207, eff. 60 days)  2002 Amendment. Act 207 amended subsec. (a).
17 PA Cons Stat § 904 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 9 - Amendment of Articles|Section 904 - Place of business

§ 904. Place of business.  (a) Change in principal place of business.--A credit union may change its place of business upon the filing of a statement of change of principal place of business with the Department of State and the department.  (b) Branch offices and service facilities.--If a credit union gives the department prior written notification and, in the case of branch offices, receives prior approval from the department, it may establish and maintain, at locations other than its principal place of business, additional branch offices and service facilities to furnish services to its members.  (c) Discontinuance of branch offices or service facilities.--If a credit union pursuant to a resolution of its board of directors provides the department prior written notification, the credit union may discontinue the operation of and close branch offices or service facilities.  (d) Cross reference.--See 15 Pa.C.S. § 134 (relating to docketing statement). (Dec. 9, 2002, P.L.1572, No.207, eff. 60 days)  Cross References. Section 904 is referred to in section 503 of this title.
17 PA Cons Stat § 1101 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 11 - Conversion, Merger and Consolidation|Section 1101 - Conversion into Federal credit union

§ 1101. Conversion into Federal credit union.   (a) General rule.--A credit union may be converted into a Federal credit union by complying with the following requirements: (1) The proposition for such conversion shall first be approved by a majority vote of the directors of the credit union who shall also set a date for the vote thereon by the members. The vote of the members shall be conducted at a meeting held on such date, or by written ballot if the bylaws so provide to be filed on or before such date. Notice of the proposition and of the date set for the vote shall be given each member not more than 30 nor less than ten days prior to such date. Approval of the proposition shall be by the affirmative vote of a majority of the members voting, in person or in writing, either at a meeting of the credit union or through a mail ballot vote. In order for a vote to be considered valid, there must be a quorum established. In the case of a meeting of the credit union, a quorum shall be established by the presence of at least 10% of the credit union's membership. In the case of a mail ballot vote, a quorum shall be established by the written response of at least 10% of the credit union's membership. (2) A statement of the result of the vote, certified by an officer of the credit union, shall be filed with the department within ten days after the vote is taken. (3) Promptly after the vote is taken and in no event later than 90 days thereafter, if the proposition for conversion was approved, the credit union shall take such action as may be necessary under the applicable laws of the United States to make it a Federal credit union, and, within ten days after receipt of the Federal credit union charter, it shall file a copy of the charter thus issued with the Department of State which shall furnish a copy thereof to the department. Upon such filing with the Department of State, the credit union shall no longer be subject to any of the provisions of this title. The successor Federal credit union shall be vested with all of the assets and shall continue to be responsible for all of the obligations of the credit union thus converted to the same extent as though the conversion had not taken place.  (b) Cross reference.--See 15 Pa.C.S. § 134 (relating to docketing statement). (Dec. 12, 1994, P.L.1067, No.146, eff. 60 days; Dec. 9, 2002, P.L.1572, No.207, eff. 60 days; June 18, 2014, P.L.754, No.62, eff. 60 days)    2014 Amendment. Act 62 amended subsec. (a)(1).  2002 Amendment. Act 207 amended subsec. (a).
17 PA Cons Stat § 1103 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 11 - Conversion, Merger and Consolidation|Section 1103 - Merger and consolidation authorized

§ 1103. Merger and consolidation authorized.  (a) General rule.--A credit union subject to this title may merge or consolidate with other credit unions, with Federal credit unions, with out-of-State credit unions or with a combination of other credit unions, Federal credit unions and out-of-State credit unions to form a credit union, Federal credit union or out-of-State credit union.  (b) Approvals and conditions.--Before merging or consolidating, the credit unions involved must obtain prior approval from the department. In the case of a merger or consolidation with a Federal credit union, the merger or consolidation shall be made pursuant to Federal law in addition to the provisions of this title. In the case of a merger or consolidation with an out-of-State credit union, the merger or consolidation shall be made pursuant to the credit union law of the state of incorporation of the out-of-State credit union or, if credit unions incorporated in different states are involved, pursuant to the credit union laws of the various states of incorporation of the out-of-State credit unions in addition to the provisions of this title. (Dec. 9, 2002, P.L.1572, No.207, eff. 60 days)  2002 Amendment. Act 207 amended subsec. (b).
17 PA Cons Stat § 1104 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 11 - Conversion, Merger and Consolidation|Section 1104 - Adoption of plan

§ 1104. Adoption of plan. (a) General rule.--The board of directors of each of the credit unions, Federal credit unions or out-of-State credit unions which desire to merge or consolidate shall, by resolution adopted by at least a majority of all the members of each board, approve a plan of merger or consolidation setting forth the terms and conditions of the merger or consolidation and the mode of carrying the same into effect, the manner and basis of converting the shares of each credit union, Federal credit union or out-of-State credit union into shares or other securities or obligations of the surviving or new credit union, Federal credit union or out-of-State credit union, and such other details and provisions as are deemed necessary. Except where the approval of the members is not required, the board of directors shall direct that the plan be submitted to a vote of the members of such credit union, Federal credit union or out-of-State credit union entitled to vote thereon at an annual or special meeting of the members to be held on not less than 15 days prior notice thereof given to each member of record, which notice shall state the place, day, hour and purpose of the meeting and shall have included therein or enclosed therewith a copy or summary of the plan of merger or consolidation.  (b) Domestic approval.--The plan of merger or consolidation to form a surviving or new credit union, Federal credit union or out-of-State credit union shall be adopted upon receiving, if the credit union is not the surviving institution, the affirmative vote of at least a majority of the members voting thereon or upon receiving, if the credit union is the surviving institution, the affirmative vote of at least a majority of the board of directors voting thereon.  (c) Federal or out-of-State approval.--The plan of merger or consolidation shall be authorized, adopted or approved by each of the merging or consolidating Federal credit unions and out-of-State credit unions in accordance with applicable Federal or State law.  (June 18, 2014, P.L.754, No.62, eff. 60 days)   2014 Amendment. Act 62 amended subsec (a).
17 PA Cons Stat § 1106 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 11 - Conversion, Merger and Consolidation|Section 1106 - Supervisory mergers or consolidations by department

§ 1106. Supervisory mergers or consolidations by department. Notwithstanding any other provision of this title, the department may require a merger or consolidation of a credit union which is insolvent or is in danger of insolvency with any other credit union, Federal credit union or out-of-State credit union or may authorize a credit union to purchase any of the assets of, or assume any of the liabilities and capital of, any other credit union, Federal credit union or out-of-State credit union if the department is satisfied that:  (1) an emergency requiring expeditious action exists with respect to such a credit union;  (2) other alternatives are not reasonably available; and  (3) the public interest would best be served by approval of such merger, consolidation, purchase or assumption. (Dec. 9, 2002, P.L.1572, No.207, eff. 60 days)
17 PA Cons Stat § 1301 (2021)
2021 Pennsylvania Consolidated & Unconsolidated Statutes|Title 17 - CREDIT UNIONS|Chapter 13 - Dissolution|Section 1301 - Dissolution authorized

§ 1301. Dissolution authorized. Any credit union may elect to dissolve voluntarily and wind up its affairs in the manner provided in this chapter. However, if it shall appear to the department, upon an examination of the business, assets and affairs of the credit union, that its assets will probably be insufficient to pay in full its members and creditors, it shall take possession of the business and property of the credit union and retain possession until its affairs are finally liquidated. (Dec. 9, 2002, P.L.1572, No.207, eff. 60 days)