reglab/housing_qa huggingface dataset:
NE Code § 21-1757 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1757 - Direction of credit union affairs.

21-1757.  Direction of credit union affairs.The credit union shall be under the direction of a board of directors, a supervisory committee, and when provided by the bylaws, a credit committee.Source  Laws 1996, LB 948, § 57.
NE Code § 21-1758 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1758 - Election or appointment of board and committees.

21-1758.  Election or appointment of board and committees.(1) The board of directors of any credit union shall consist of an odd number of directors, at least five in number, to be elected by and from the members. Elections shall be held at the annual meeting or in such other manner as provided by the bylaws. All members of the board of directors shall hold office for such terms as provided by the bylaws, except that the terms of the board members shall be staggered so that an approximately equal number of terms expire each year.(2) The supervisory committee shall have at least three members. The members shall be appointed by the board of directors or elected by the credit union members in such numbers and for terms as provided in the bylaws. No member of the supervisory committee shall be a director, officer, loan officer, credit committee member, or employee of the credit union while serving on the supervisory committee.(3) If the bylaws provide for a credit committee, the committee shall have at least three members. The members shall be appointed by the board of directors or elected by the credit union members in such number and for such terms as provided in the bylaws. The credit committee shall have and perform the duties as provided in the bylaws. If the bylaws do not provide for a credit committee, the board of directors shall have and perform the duties of the credit committee or delegate the duties as it so chooses.Source  Laws 1996, LB 948, § 58.
NE Code § 21-1759 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1759 - Record of board and committee membership.

21-1759.  Record of board and committee membership.The credit union shall file within thirty calendar days after the credit union's annual meeting, a record of the names and addresses of (1) the members of its board of directors, (2) the members of its supervisory and credit committees, and (3) its officers, as required by the department. Such filing shall be made on forms approved and provided by the department.Source  Laws 1996, LB 948, § 59.
NE Code § 21-1760 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1760 - Vacancies.

21-1760.  Vacancies.The board of directors shall fill any vacancies occurring on the board. An individual appointed to fill a vacancy on the board shall serve the remainder of the unexpired term, except that he or she shall cease to serve immediately if he or she replaced a director who was suspended or removed by the board or the supervisory committee and the credit union membership reversed such suspension or removal. Vacancies in the credit or supervisory committees shall be filled as provided in the bylaws.Source  Laws 1996, LB 948, § 60.
NE Code § 21-1761 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1761 - Compensation; expenses.

21-1761.  Compensation; expenses.No officer, director, or committee member, jointly or severally, shall receive any compensation, directly or indirectly, for services performed for the credit union as such officer, director, or committee member, except that the treasurer may be compensated for his or her services in the amount, way, and manner provided for by the board of directors. However, providing life, health, accident, and similar insurance protection in reasonable amounts for a director or committee member shall not be considered compensation. Officials, while on credit union business, may be reimbursed for their necessary expenses incidental to the performance of credit union business.Source   Laws 1996, LB 948, § 61;  Laws 1999, LB 107, § 3.
NE Code § 21-1762 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1762 - Conflicts of interest.

21-1762.  Conflicts of interest.No official, agent, or employee of a credit union shall in any manner, directly or indirectly, participate in the deliberation upon the determination of any question affecting that person's pecuniary interest or the pecuniary interest of any corporation, partnership, or association, other than the credit union, in which that person is directly or indirectly interested.Source  Laws 1996, LB 948, § 62.
NE Code § 21-1763 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1763 - Indemnification.

21-1763.  Indemnification.A credit union may indemnify any or all of its officials and employees or former officials or employees against expenses actually and necessarily incurred by them in connection with the defense or settlement of any action, suit, or proceeding in which they, or any of them, are made a party or parties thereto by reason of being or having been an official or employee of the credit union. A credit union may not indemnify any or all of its officials and employees or former officials or employees against expenses actually and necessarily incurred by them in relation to matters as to which any such official or employee shall be adjudged in such action, suit, or proceeding to be liable for willful misconduct in the performance of duty and to such matters as are settled by agreement predicated on the existence of such liability.Source  Laws 1996, LB 948, § 63.
NE Code § 21-1764 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1764 - Officers; duties.

21-1764.  Officers; duties.(1) The members of the board of directors shall elect from their own number a chairperson, one or more vice-chairpersons, a treasurer, and a secretary, at the organizational meeting held as provided in the bylaws. The board shall fill vacancies in the positions described in this subsection as they occur. The treasurer and the secretary may be the same individual. The board shall also elect any other officers that are specified in the bylaws.(2) The terms of the chairperson, vice-chairperson, treasurer, and secretary shall be for one year or until their successors are chosen and have been duly qualified. If the chairperson, a vice-chairperson, the treasurer, or the secretary is suspended, is removed, or has resigned as a board member, his or her position shall be deemed vacant.(3) The duties of the officers shall be prescribed in the bylaws.(4) The board of directors shall appoint a president to act as the chief executive officer of the credit union and to be in active charge of the credit union's operations.(5) Notwithstanding any other provision of the Credit Union Act, a credit union may use any titles it so chooses for the officials holding the positions described in this section, as long as such titles are not misleading.Source  Laws 1996, LB 948, § 64.
NE Code § 21-1765 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1765 - Board of directors; authority.

21-1765.  Board of directors; authority.The board of directors shall direct the business affairs, funds, and records of the credit union.Source  Laws 1996, LB 948, § 65.
NE Code § 21-1766 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1766 - Executive committee.

21-1766.  Executive committee.The board of directors may appoint from its own number an executive committee, consisting of not less than three directors, which may be authorized to act for the board in all respects, subject to any conditions or limitations prescribed by the board.Source  Laws 1996, LB 948, § 66.
NE Code § 21-1767 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1767 - Meetings of directors.

21-1767.  Meetings of directors.(1) The board of directors shall have regular meetings as often as necessary but not less frequently than once a month unless otherwise approved by the Director of Banking and Finance. Special meetings of the board may be called as provided in the bylaws.(2) Unless the articles of association or bylaws provide otherwise, the board of directors may permit any or all directors to participate in a regular or special meeting by, or conduct the meeting through the use of, any means of communication by which all directors participating may simultaneously hear each other during the meeting. A director participating in a meeting by this means shall be deemed to be present in person at the meeting.(3) If the Director of Banking and Finance deems it expedient, he or she may call a meeting of the board of directors of any credit union, for any purpose, by giving notice to the directors of the time, place, and purpose thereof at least three business days prior to the meeting, either by personal service or by registered or certified mail sent to their last-known addresses as shown on the credit union books.(4) A full and complete record of the proceedings and business of all meetings of the board of directors shall be recorded in the minutes of the meeting.Source   Laws 1996, LB 948, § 67;  Laws 2000, LB 932, § 24.
NE Code § 21-1767.01 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1767.01 - Bond.

21-1767.01.  Bond.The department shall require each credit union to obtain a fidelity bond, naming the credit union as obligee, in an amount to be determined by the department. The bond shall be issued by an authorized insurer and shall be conditioned to protect and indemnify the credit union from loss which it may sustain of money or other personal property, including that for which the credit union is responsible through or by reason of the fraud, dishonesty, forgery, theft, embezzlement, wrongful abstraction, misapplication, misappropriation, or any other dishonest or criminal act of or by any of its officers, directors, supervisory committee members, credit committee members, or employees. Such bond may contain a deductible clause in an amount to be approved by the director. An executed copy of the bond shall be filed with and approved by the director and shall remain a part of the records of the department. If the premium of the bond is not paid, the bond shall not be canceled or subject to cancellation unless at least ten days' advance notice, in writing, is filed with the department by the insurer. No bond which is current with respect to premium payments shall be canceled or subject to cancellation unless at least forty-five days' advance notice, in writing, is filed with the department by the insurer. The bond shall always be open to public inspection during the office hours of the department. In the event a bond is canceled, the department may take whatever action it deems appropriate in connection with the continued operation of the credit union involved.Source Laws 2000, LB 932, § 25.
NE Code § 21-1768 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1768 - Duties of directors.

21-1768.  Duties of directors.In addition to the duties found elsewhere in the Credit Union Act, the board of directors shall:(1) Act upon applications for membership or appoint one or more membership officers to act on applications for membership under such conditions as prescribed by the board. A person denied membership by a membership officer may appeal the denial in writing to the board;(2) Purchase adequate bond coverage as required by section 21-1767.01;(3) Report to the department all bond claims within thirty calendar days after filing and all frauds and embezzlements involving officials or employees within thirty calendar days after discovery;(4) Determine from time to time the interest rate or rates, consistent with the Credit Union Act, to be charged on loans, or under such conditions as prescribed by the board, delegate the authority to make such determinations and to authorize any interest refunds on such classes of loans and under such conditions as the board prescribes;(5) Establish the policies of the credit union with respect to (a) shares, share drafts, and share certificates and (b) the granting of loans and the extending of lines of credit, including, subject to the limitations contained in section 21-1791, the maximum amount which may be loaned to any one member;(6) Declare dividends on shares or delegate the authority to declare dividends under such conditions as prescribed by the board;(7) Have charge of investment of funds, except that the board may appoint an investment committee of not less than three directors or an investment officer who is either a member of the board of directors or an employee of the credit union to make investments under conditions and policies established by the board and to make monthly reports to the board;(8) Establish written policies for investments, including deposits and loans other than those to individuals, which address, at a minimum, investment objectives, investment responsibility, portfolio composition, diversification, and the financial condition of the investment obligor;(9) Authorize the employment of such persons necessary to carry on the business of the credit union and fix the compensation, if any, of the chief executive officer;(10) Approve an annual operating budget for the credit union which includes provisions for the compensation of employees;(11) Designate a depository or depositories for the funds of the credit union;(12) Suspend or remove any or all members of the credit committee, if any, for failure to perform their duties;(13) Appoint any special committee deemed necessary;(14) Adopt and enforce the overall policies for the operation of the credit union; and(15) Perform such other duties as directed by the members of the credit union from time to time and perform or authorize any action not inconsistent with the Credit Union Act and not specifically reserved by the bylaws for the members of the credit union.Source   Laws 1996, LB 948, § 68;  Laws 2000, LB 932, § 26.
NE Code § 21-1769 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1769 - Credit committee; credit manager; loan officers; powers and duties.

21-1769.  Credit committee; credit manager; loan officers; powers and duties.(1) The credit committee shall have the general supervision of all loans to members and may approve or disapprove those loans subject to written policies established by the board of directors.(2) A credit manager having the same authority as a credit committee may be appointed in lieu of a credit committee as prescribed in the bylaws. The president may serve as the credit manager.(3) The board of directors may appoint one or more loan officers and necessary assistants.(4) The loan officers shall act under the direction of the president or the president's designee.(5) The loan officer or credit manager may approve or disapprove loans, lines of credit, or advances from lines of credit and approve withdrawals of obligated members only as prescribed in writing by the board of directors.(6) All loans approved by the loan officer shall be reviewed by the credit committee during one of its regular meetings.(7) If the board of directors appoints a credit manager in lieu of a credit committee, all such loans approved by loan officers shall be reviewed by the credit manager.(8) Other duties and responsibilities of the credit committee or credit manager may be prescribed in the bylaws.Source  Laws 1996, LB 948, § 69.
NE Code § 21-1770 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1770 - Loan officer license; opt out.

21-1770.  Loan officer license; opt out.The chief executive officer or the credit committee may apply to the department on forms supplied by the department for the licensing of one or more loan officers in order to delegate to such loan officers the power to approve loans and disburse loan funds up to the limits and according to policies established by the credit committee, if any, and in the absence of a credit committee, the board of directors. Such application shall include information deemed necessary by the department and shall be signed by the entire credit committee, if any, and in the absence of a credit committee, the entire board of directors, as well as the new loan officer seeking a license. No person shall act in the capacity of loan officer for more than thirty days until approved by the department unless the credit union has elected to opt out of licensing loan officers on forms supplied by the department.Source   Laws 1996, LB 948, § 70;  Laws 1999, LB 107, § 4;  Laws 2017, LB140, § 148.
NE Code § 21-1771 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1771 - Supervisory committee; duties; audit.

21-1771.  Supervisory committee; duties; audit.(1) Unless the credit union has been audited by a certified public accountant, the supervisory committee shall make or cause to be made a comprehensive annual audit of the books and affairs of the credit union. It shall submit a report of each annual audit to the board of directors and a summary of that report to the members at the next annual meeting of the credit union.(2) The supervisory committee shall make or cause to be made such supplementary audits, examinations, and verifications of members' accounts as it deems necessary or as are required by the director or the board of directors and shall submit reports of these supplementary audits to the board of directors.(3) Nothing in this section shall prohibit the department for cause from requiring a credit union to obtain a qualified opinion audit conducted by a certified public accountant and paid for by the credit union.Source  Laws 1996, LB 948, § 71.
NE Code § 21-1772 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1772 - Suspension and removal of officials.

21-1772.  Suspension and removal of officials.(1) The supervisory committee may, by a unanimous vote of the entire committee, suspend any member of the credit committee and shall report such action to the board of directors for appropriate action. The board shall meet not less than seven nor more than twenty-one calendar days after such suspension. The suspended person shall have the right to appear and be heard at such meeting of the board.(2) The supervisory committee may, by a unanimous vote of the entire committee, suspend any officer or member of the board of directors. Upon the request of the suspended director made fifteen calendar days after the suspension and supported by ten percent of the membership, the credit union shall call a special members' meeting which shall be held not less than seven nor more than twenty-one calendar days after such request. At such meeting the members shall decide whether to sustain or reverse the action of the supervisory committee.(3) The board of directors may suspend or remove any member of the supervisory committee for cause by a two-thirds vote of the total board membership for failure to perform his or her duties in accordance with the Credit Union Act, the articles of association, or the bylaws.(4) The board of directors may, by majority vote, suspend or remove any officer from his or her duties.(5) The members of the credit union may remove any official of the credit union from office but only at a special meeting of the members called for that purpose.Source  Laws 1996, LB 948, § 72.
NE Code § 21-1773 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1773 - Share insurance.

21-1773.  Share insurance.No credit union organized under the Credit Union Act shall establish share accounts for any person other than a subscriber before the credit union has received a certificate of federal share insurance issued by the National Credit Union Administration under section 201 et seq. of the Federal Credit Union Act, 12 U.S.C. 1781 et seq.Source  Laws 1996, LB 948, § 73.
NE Code § 21-1774 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1774 - Shares.

21-1774.  Shares.(1) Share accounts and membership shares, if any, may be subscribed to, paid for, and transferred in such manner as the bylaws may prescribe. A credit union may have more than one class of share accounts subject to such terms, rates, and conditions as the board of directors establishes or as provided for in the underlying contract. All classes of share accounts shall be treated equally in the event of liquidation of the credit union.(2) A credit union may require its members to subscribe to and make payments on membership shares.(3) The par value of share accounts and membership shares shall be as prescribed in the bylaws.(4) Membership shares may not be pledged as security on any loan.Source  Laws 1996, LB 948, § 74.
NE Code § 21-1775 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1775 - Special purpose share accounts.

21-1775.  Special purpose share accounts.Christmas clubs, vacation clubs, and other special purpose share accounts may be established and offered to members under the conditions and restrictions established by the board of directors if provided for in and consistent with the bylaws.Source  Laws 1996, LB 948, § 75.
NE Code § 21-1776 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1776 - Dividends.

21-1776.  Dividends.(1) The board of directors may periodically authorize and declare dividends to be paid on share accounts and membership shares, if any, from the credit union's undivided earnings after provisions have been made for the required reserves. Share accounts within the same class and of different classes may be paid dividends at differing rates depending on the amounts in the account or the contractual terms applicable to the account.(2) Dividends shall not be declared or paid at a time when the credit union is insolvent or when payment thereof would render the credit union insolvent.Source  Laws 1996, LB 948, § 76.
NE Code § 21-1777 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1777 - Accounting for interest and dividend expenses.

21-1777.  Accounting for interest and dividend expenses.A credit union shall accrue, as an expense on a monthly basis, all dividends on any type of share account whether or not the rates involved have been specified or contracted for in advance. This section shall not be interpreted to permit a credit union to pay a dividend, except as provided in section 21-1776. Reasonable estimates may be used for the expense accrual required by this section except at the end of a dividend period.Source  Laws 1996, LB 948, § 77.
NE Code § 21-1778 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1778 - Maximum share account.

21-1778.  Maximum share account.A credit union may, by action of the board of directors, establish a maximum amount that a member may have in any given type of share account. Any such action shall not affect any contract entered into by the credit union prior to the time of such action.Source  Laws 1996, LB 948, § 78.
NE Code § 21-1779 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1779 - Withdrawals.

21-1779.  Withdrawals.(1) Shares may be withdrawn for payment to the account holder or to third parties in the manner and in accordance with procedures established by the board of directors subject to any rules and regulations prescribed by the department.(2) Share accounts shall be subject to any withdrawal notice requirement specified in the contract creating the account. In addition, a credit union may impose a thirty-day withdrawal notice on all accounts when it has not specifically waived this right if it notifies the department of such imposition and the reasons therefor.(3) A membership share may not be redeemed or withdrawn except upon termination of membership in the credit union.Source  Laws 1996, LB 948, § 79.