reglab/housing_qa huggingface dataset:
AZ Rev Stat § 6-525 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-525 - Meetings of members

6-525.  Meetings of members A. The members of the credit union shall hold the annual meeting and any special meetings as provided in the bylaws. B. At all such meetings a member has only one vote,  irrespective of the member's shareholdings. A member may not vote by proxy,  but a member may vote by absentee ballot,  mail ballot or other method if the bylaws of the credit union so provide. C. The board of directors may establish a minimum age,  of not more than eighteen,  as a qualification of eligibility to vote at meetings of the members or to hold office,  or both. Members who are minors may vote through their parent or other legal guardian. D. An organization having membership in the credit union may be represented and have its vote cast by one of its members or shareholders,  if the person has been duly authorized by the organization.
AZ Rev Stat § 6-526 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-526 - Calling of special meetings

6-526.  Calling of special meetings The bylaws shall prescribe the manner in which the members or the board of directors,  or both,  may call a special meeting of the members.
AZ Rev Stat § 6-527 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-527 - Liability of members

6-527.  Liability of members The members of the credit union are not personally or individually liable for the payment of its debts solely by virtue of holding membership.
AZ Rev Stat § 6-531 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-531 - Authority and responsibility of directors; voting

6-531.  Authority and responsibility of directors;  voting A. The board of directors has the authority and responsibility for directing the business affairs,  monies and records of the credit union. B. Except as provided in section 6-543,  directors may not vote by proxy,  absentee ballot or mail ballot but may vote by telephone conference if all directors present can speak to and be heard by the other directors during the telephone conference. C. The board of directors shall meet at least ten times during each calendar year in ten different months.
AZ Rev Stat § 6-532 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-532 - Election of board

6-532.  Election of board A. The board shall consist of at least five directors,  to be elected by and from the members. Elections shall be held at the annual meeting or in such other manner as the bylaws provide. All members of the board are entitled to hold office for the terms the bylaws provide,  except that terms shall be staggered so that an approximately equal number expire each year,  over a three-year period. B. At a meeting held within thirty days after each annual election,  the board of directors shall appoint a supervisory committee of not fewer than three persons for such terms as the bylaws provide. At the same meeting,  the board of directors shall appoint a credit committee,  unless the bylaws provide for a credit manager in place of a credit committee. The credit committee shall consist of not fewer than three persons whose terms shall be as the bylaws provide. Within twenty days after the meeting,  the credit union shall file with the deputy director a record of the names and addresses of the members of the board and such other committees and officials as required by the deputy director. Within sixty days after any vacancies occurring in the board or supervisory or credit committee,  the board shall fill the vacancies in accordance with the bylaws. A record of the names and addresses of members filling any vacancies on the board or the supervisory or credit committee shall be filed with the deputy director within twenty days after their appointment.
AZ Rev Stat § 6-533 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-533 - Compensation of officials

6-533.  Compensation of officials A credit union may compensate an officer,  director or committee member for the officer's,  director's or committee member's services to the credit union. Providing reasonable life,  health,  accident and similar insurance protection is not considered compensation. Directors,  officers and committee members may be reimbursed for necessary expenses incidental to the performance of official business of the credit union.
AZ Rev Stat § 6-534 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-534 - Conflicts of interest

6-534.  Conflicts of interest A director,  committee member,  officer,  agent or employee of the credit union shall not in any manner participate,  directly or indirectly,  in the deliberation or the determination of any question affecting that person's pecuniary or other personal interest or the pecuniary interest of any organization,  other than the credit union,  in which the person is directly or indirectly interested.
AZ Rev Stat § 6-535 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-535 - Officers

6-535.  Officers A. At the organization meeting held within thirty days after each annual election,  the board of directors shall elect from its own number a chairman of the board,  a vice-chairman,  a secretary and a treasurer. They shall also elect any other officers that are provided for in the bylaws. B. The terms of the officers are one year,  or until their successors are chosen and have been duly qualified. The duties of the officers shall be prescribed in the bylaws. C. The board of directors shall appoint a president to act as the chief executive officer of the credit union and to be in charge of its operations. The president may be a director. D. Notwithstanding any other provision of this chapter,  a credit union may use any title it provides in its bylaws for the officials holding the positions described in this article as long as the titles are not misleading.
AZ Rev Stat § 6-536 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-536 - Executive committee

6-536.  Executive committee The board of directors may elect from its own number an executive committee,  consisting of not fewer 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 by law or rule. The executive committee shall report in writing to the board of directors on all of its actions since the previous board meeting and the board shall either ratify or rescind each such action.
AZ Rev Stat § 6-537 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-537 - Certain duties of directors; insurance

6-537.  Certain duties of directors;  insurance A. In addition to the duties prescribed in this chapter,  the board of directors shall: 1. Purchase adequate fidelity coverage for the credit union covering the president and other officials and employees handling or having custody of monies or property of the credit union. 2. Authorize the employment and compensation of the president,  who may hire other persons as are necessary to carry out the business of the credit union. 3. Approve an operating budget for the credit union. 4. Authorize the conveyance of property. 5. Borrow or lend money to carry on the functions of the credit union. 6. Appoint special committees. B. The board of directors shall perform other duties as the members from time to time may direct and perform or authorize any action not inconsistent with law or not specifically reserved by the bylaws to the members. C. The board of directors shall purchase and maintain insurance for the credit union on behalf of a person who is or was a director,  officer,  employee or agent of the credit union,  or who is or was serving at the request of the credit union as a director,  officer,  employee or agent of another corporation,  partnership,  joint venture,  trust or other enterprise,  against any liability asserted against the person and incurred by the person in any such capacity or arising out of the person's status as such,  whether or not the credit union would have the power to indemnify the person against the liability.
AZ Rev Stat § 6-538 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-538 - Credit committee

6-538.  Credit committee A. The credit committee has the general supervision of all loans to members,  unless it is replaced by a credit manager as provided in section 6-539. The credit committee may approve or disapprove loans subject to written policies established by the board of directors. B. The credit committee shall meet as often as the business of the credit union requires but not less frequently than monthly,  to review the lending activities of the credit union and to consider applications for loans. A loan shall not be made unless it is approved by a majority of the members of the committee who are present at the meeting at which the application is considered. C. The credit committee or the credit manager shall keep a record of all actions taken and shall report on such actions to the board at its next meeting.
AZ Rev Stat § 6-539 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-539 - Credit manager

6-539.  Credit manager If the bylaws so provide,  the board may elect a credit manager to serve in place of a credit committee. The credit manager may approve or disapprove loans subject to the written policies prescribed by the board of directors. The president may serve as the credit manager.
AZ Rev Stat § 6-540 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-540 - Loan officers

6-540.  Loan officers A. The president may appoint one or more loan officers and delegate the power to approve or disapprove loans,  subject to those limitations or conditions as the credit committee or board of directors prescribes. B. A member whose application is disapproved by a loan officer may appeal the action to the credit committee or credit manager as appropriate under the bylaws.
AZ Rev Stat § 6-541 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-541 - Audits

6-541.  Audits A. The supervisory committee shall make or cause to be made a comprehensive annual audit of the books and affairs of the credit union. The supervisory committee shall also make those supplementary examinations,  audits and verifications of members' accounts as it deems necessary or as required by the deputy director or the board of directors. The supervisory committee shall submit a report of each annual audit to the board of directors at its next meeting,  and to the deputy director,  and shall include a summary of that report to the members at the next annual meeting of the credit union. B. The audit shall be made using generally accepted accounting procedures and standards. Each audit at a minimum shall test the credit union's assets,  liabilities,  equity,  income,  expenses and internal controls. C. The supervisory committee shall ensure that adequate work papers are prepared and maintained to support each audit. These work papers shall be made available for review during examinations by the deputy director.
AZ Rev Stat § 6-542 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-542 - Suspension and removal of officials

6-542.  Suspension and removal of officials A. Both the supervisory committee and the board may suspend for cause by a two-thirds vote of their entire membership any director,  officer or member of a committee and shall immediately notify such person in writing of the suspension and the reasons for the suspension. B. A suspended director,  officer or committee member may request a special meeting of the members to consider that suspension. The board shall call a special meeting for that purpose not fewer than seven days nor more than twenty-one days after that suspension,  and that suspension shall be upheld or overturned by a majority of the members present. The suspended person is entitled to appear and be heard at the special meeting. C. In the absence of a request for a hearing,  the suspension is deemed a removal from office. Approval of the suspension by the membership constitutes removal from office. D. Notwithstanding any other provision of this section,  the members of a credit union may suspend or remove any director or committee member at any annual or special meeting of the members.
AZ Rev Stat § 6-543 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-543 - Action without meeting

6-543.  Action without meeting A. Unless the articles of incorporation or bylaws provide otherwise,  action required or allowed to be taken at a board of directors' meeting may be taken by electronic means without a meeting as provided in this section if notice is given to each member of the board. The notice shall state the action to be taken and the date and time by which a director must respond. B. Action may be taken under this section only if,  at the end of the date and time stated in the notice,  both of the following apply: 1. The votes that are received by the board chairman or board president by electronic means and that are in favor of the action equal or exceed the minimum number of votes that would be necessary to take the action at a meeting at which all of the directors then in office were present and voted. 2. The board chairman,  board president or board secretary has not received a written demand by a director as described in subsection C of this section. C. Any director may demand that an action not be taken without a meeting by delivering a signed communication to the board chairman,  board president or secretary before the date given in the notice prescribed by subsection A of this section. D. Action taken pursuant to this section: 1. Has the same effect as action taken at a meeting of the board of directors and may be described as such in any document. 2. Shall be included in the minutes filed at the next board of directors' meeting along with a record of how each director voted on the action. E. All communication pursuant to this section may be done by electronic means and each director's vote must be signed using an electronic signature employing a security procedure as defined in section 44-7002.
AZ Rev Stat § 6-551 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-551 - Share accounts

6-551.  Share accounts A. Share accounts shall be subscribed to and paid for in such manner as the bylaws prescribe. A credit union may require its members to subscribe to and make payments on membership shares. Membership shares may not be pledged as security on any loan. B. The par value of any membership shares may differ from the par value of other shares. C. A credit union may limit the amount in share accounts and deposit accounts and any such limit must apply to all account holders.
AZ Rev Stat § 6-552 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-552 - Dividends

6-552.  Dividends A. After provision for the required reserves,  the board of directors may declare dividends to be paid on share accounts from the undivided earnings. B. A credit union may pay dividends at various rates with due regard to the conditions that pertain to each type of share account,  such as minimum balance,  notice and time requirements. A credit union may,  but is not required to,  pay a dividend on membership shares.
AZ Rev Stat § 6-553 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-553 - Deposit accounts

6-553.  Deposit accounts A. A credit union may only accept deposit accounts from its members,  employers of members,  sponsors of profit or pension trusts of those members,  other credit unions and governmental units,  and from nonmembers in the case of credit unions serving predominantly low income members in accordance with nonmember deposit requirements of the national credit union administration for federal credit unions,  and subject to the terms,  rates,  limits and conditions established by the board of directors.  B. The credit union may pay interest 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. A deposit account is a debt owed by the credit union to the account holder. Ownership of a deposit account does not confer membership or voting rights and does not represent an interest in the capital of the credit union.
AZ Rev Stat § 6-554 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-554 - Withdrawals

6-554.  Withdrawals A. A person may withdraw monies in share and deposit accounts for payment to the account holder or to third parties in the manner and in accordance with the procedures established by the board of directors. B. Share and deposit accounts are subject to any withdrawal notice requirements imposed pursuant to the bylaws. C. A person may not redeem or withdraw a membership share except on termination of membership in the credit union.
AZ Rev Stat § 6-555 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-555 - Minors' accounts

6-555.  Minors' accounts The credit union may receive payment on share and deposit accounts from a minor,  who may withdraw monies from the accounts,  including any dividends or interest on the accounts. Payments on the accounts by a minor and withdrawals by the minor are valid in all respects. For these purposes a minor is deemed of legal age.
AZ Rev Stat § 6-556 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-556 - Multiple party accounts

6-556.  Multiple party accounts A. A credit union may enter into multiple party accounts,  as provided in title 14,  chapter 6,  article 1. No multiple party owner,  unless he is a member of the credit union in his own right,  may vote at member meetings,  obtain loans from the credit union or hold office in the credit union or is required to pay a membership fee. B. Payment of part or all of a multiple party account to any of the multiple party owners shall discharge,  to the extent of the payment,  the liability of the credit union to all such parties unless the account agreement contains a prohibition or limitation on the payment. C. A member may designate any person to own a share or deposit account with the member under any form of joint ownership permitted by law. D. A member may own a share or deposit account in trust for a beneficiary,  or a nonmember may own a share or deposit account in trust for a beneficiary who is a member. A beneficiary may be a minor. E. A member may designate any person or persons as payees on a payable-on-death account.
AZ Rev Stat § 6-557 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-557 - Liens

6-557.  Liens A. A credit union has a lien on the share and deposit accounts and accumulated dividends of a member for any amount owed the credit union by the member and for any loan endorsed by the member. The credit union has a right of immediate setoff with respect to each share and deposit account on default of the owner of the account in an obligation owed to the credit union. B. The credit union may waive its rights to a lien,  to immediate setoff,  to restrict withdrawals or to any combination of these rights with respect to any share or deposit account.
AZ Rev Stat § 6-558 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-558 - Member account insurance

6-558.  Member account insurance A. Before the incorporators of a credit union forward the organization documents to the deputy director,  as required by section 6-506,  they shall apply for insurance on share and deposit accounts from an insuring organization. B. The deputy director shall not grant a certificate of approval to form a credit union unless the proposed credit union has obtained a commitment for insurance on member accounts. C. A credit union may not begin operations as a credit union or continue operations without share and deposit account insurance acceptable to the deputy director.
AZ Rev Stat § 6-559 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-559 - Savings promotion accounts

6-559.  Savings promotion accounts Notwithstanding any other law,  a credit union may offer a savings promotion account that is a savings account or certificate of deposit that includes an incentive in which the sole requirement to obtain the incentive is the deposit of a specified amount of money in the account.
AZ Rev Stat § 6-561 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-561 - Purpose and conditions of loans; prepayment penalties

6-561.  Purpose and conditions of loans;  prepayment penalties A. A credit union may make loans,  including lines of credit,  to members for the purposes and on the conditions as the bylaws provide. The board of directors shall establish written policies with respect to the granting of loans including the terms,  conditions and acceptable forms of security. B. No person,  except another credit union,  may become indebted,  directly or indirectly,  to the credit union for more than ten per cent of the credit union's capital or two hundred dollars,  whichever is greater. This limit does not apply to loans which are fully secured by assignment of share or deposit accounts in the credit union. C. An application for a loan shall state the security and other information required by the credit committee or credit manager. Each loan shall be evidenced by a written document. D. A member may repay a loan or outstanding balance on a line of credit prior to maturity in whole or in part on any business day without penalty. Except as provided in this subsection,  prepayment penalties may be charged on member business loans as defined by the national credit union administration in 12 Code of Federal Regulations section 723.1.
AZ Rev Stat § 6-562 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-562 - Interest rates and other charges

6-562.  Interest rates and other charges A. The board of directors shall determine the interest rates on loans. The board may also authorize any refund of interest on loans under the conditions it may prescribe. B. In addition to interest charged on loans,  a credit union may charge all reasonable fees and expenses in connection with the making,  closing,  disbursing,  extending,  modifying,  collecting or renewing of loans. C. A credit union may assess charges to members,  in accordance with board policy,  for failure to meet their obligations to the credit union in a timely manner.
AZ Rev Stat § 6-563 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-563 - Other loan programs

6-563.  Other loan programs A. A credit union may participate in loans to its members jointly with other credit unions,  credit union organizations or other organizations pursuant to written policies established by the board of directors. A credit union which originates such a loan shall retain an interest of at least ten per cent of the outstanding principal balance of the loan. Before participating in a loan transaction,  each credit union shall perform its own independent evaluation of the creditworthiness of the borrower. B. In making loans to its members 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 or rules under which such a program is provided. C. A credit union may finance for any person the sale of the credit union's property,  including property obtained as a result of defaults in obligations owed to it,  under the terms,  conditions and rates provided by this chapter.