reglab/housing_qa huggingface dataset:
NC Gen Stat § 54-109.14 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14B - Supervision and Regulation.|§ 54-109.14 - Fees.

 54-109.14. Fees.(a) Each credit union subject to supervision and examination by the Administrator of Credit Unions, including credit unions in process of voluntary liquidation, shall pay into the office of the Administrator of Credit Unions twice each year, in the months of January and July, supervision fees, except those credit unions which liquidate or convert its charter shall pay into the office of the Administrator of Credit Unions, to the date of dissolution, pro rata supervision fees. Examination fees shall be paid promptly upon receipt of the examination report and invoice.The Administrator of Credit Unions, subject to the advice and consent of the Credit Union Commission, shall, on or before December 1 of each year, determine and fix the scale of supervisory and examination fees to be assessed during the next calendar year.No credit union shall be required to pay any supervisory fee until the expiration of 12 months from the date of the issuance of a certificate of incorporation to such credit union.(b) Moneys collected under this section shall be deposited with the State Treasurer of North Carolina and expended, under the terms of the Executive Budget Act, to defray expenses incurred by the office of the Administrator of Credit Unions in carrying out its supervisory and auditing functions.(c) All revenue derived from fees will be placed into a special account to be administered solely for the operation of the Credit Union Division. (1915, c. 115, s. 7; C.S., s. 5238; 1925, c. 73, ss. 3, 7; 1935, c. 87; 1941, c. 235; 1955, c. 1135, ss. 3, 4; 1957, c. 989, s. 7; 1965, c. 956, ss. 1, 23, 24; 1969, c. 69, s. 6; 1971, c. 864, s. 17; 1973, c. 199, s. 12; 1975, c. 538, s. 1; 1977, c. 559, ss. 2, 3.)
NC Gen Stat § 54-109.15 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14B - Supervision and Regulation.|§ 54-109.15 - Reports.

 54-109.15. Reports.(a) Credit unions organized under Articles 14A to 14L of this Chapter shall, in January and in July of each year, make a report of condition to the Administrator of Credit Unions on forms supplied for that purpose. Additional reports may be required.(b) Any credit union that neglects to make semiannual reports as provided in subsection (a) of this section, or any of the other reports required by the Administrator of Credit Unions at the time fixed by the Administrator, shall pay a late penalty to the Administrator of Credit Unions of seventy-five dollars ($75.00) for each day the neglect continues. The Administrator of Credit Unions may revoke the certificate of incorporation and take possession of the assets and business of any credit union failing to pay a penalty imposed under this section after serving notice of at least 15 days upon the credit union of the proposed action. The clear proceeds of penalties collected pursuant to this subsection shall be remitted to the Civil Penalty and Forfeiture Fund in accordance with G.S. 115C-457.2. (1915, c. 115, s. 7; C.S., ss. 5238, 5240; 1925, c. 73, ss. 3, 7, 8; 1935, c. 87; 1941, c. 235; 1955, c. 1135, ss. 3, 4; 1957, c. 989, ss. 7, 8; 1965, c. 956, ss. 1, 23, 24; 1969, c. 69, s. 6; 1971, c. 864, s. 17; 1973, c. 199, s. 12; 1975, c. 538, s. 1; 1991, c. 651, s. 2; 2005-276, s. 6.37(u).)
NC Gen Stat § 54-109.16 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14B - Supervision and Regulation.|§ 54-109.16 - Examinations required; payment of cost.

 54-109.16. Examinations required; payment of cost.The Administrator of Credit Unions shall cause every credit union formed under Article 14A of this Chapter to be examined once every 18 months or whenever the Administrator deems it necessary. The examiners appointed by the Administrator shall be given free access to all books, papers, securities, and other sources of information in respect to the credit union; for the purpose of the examination, the Administrator may subpoena and examine personally, or by one of the Administrator's deputies or examiners, witnesses on oath and documents, whether the witnesses are members of the credit union or not, and whether the documents are documents of the credit union or not. The Administrator may designate an independent auditing firm to do the work under the Administrator's direction and supervision, with the cost to be paid by the credit union involved.  (1915, c. 115, s. 7; C.S., s. 5239; 1925, c. 73, s. 3; 1935, c. 87; 1965, c. 956, ss. 1, 25; 1969, c. 69, ss. 7, 8; 1975, c. 538, s. 1; 1977, c. 559, s. 4; 2017-25, s. 4(b).)
NC Gen Stat § 54-109.17 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14B - Supervision and Regulation.|§ 54-109.17 - Records.

 54-109.17. Records.(a) A credit union shall maintain all books, records, accounting systems and procedures in accordance with such rules as the Administrator from time to time prescribes. In prescribing such rules, the Administrator shall consider the relative size of a credit union and its reasonable capability of compliance.(b) A credit union is not liable for destroying records after the expiration of the record retention time prescribed by the Administrator.(c) A photostatic or photographic reproduction of any credit union records shall be admissible as evidence of transactions with the credit union. (1973, c. 98, s. 1; 1975, c. 538, s. 1.)
NC Gen Stat § 54-109.18 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14B - Supervision and Regulation.|§ 54-109.18 - Selection of attorneys to handle loan-closing proceedings.

 54-109.18. Selection of attorneys to handle loan-closing proceedings.The Administrator of Credit Unions shall establish rules and regulations relating to selection of attorneys-at-law to handle credit union loan closing proceedings. (1977, c. 559, s. 10.)
NC Gen Stat § 54-109.19 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14B - Supervision and Regulation.|§ 54-109.19 - Removal of officers.

 54-109.19. Removal of officers.(a) The Administrator of Credit Unions shall have the right and is hereby empowered to serve a written notice of his intention to remove from office any officer, director, committeeman or employee of any credit union doing business under Articles 14A through 15A of this Chapter who shall be found to be dishonest, incompetent, or reckless in the management of the affairs of the credit union, or who persistently violates the laws of this State or the lawful orders, instructions and regulations issued by the Administrator and/or the State Credit Union Commission.(b) A notice of intention to remove a director, officer, committee member or employee from office shall contain a statement of the alleged facts constituting the grounds therefor and shall fix a time and place at which a hearing before the Credit Union Commission will be held thereon. Such hearing shall be fixed for a date not earlier than 30 days nor later than 60 days after the date of service of such notice unless an earlier or a later date is set by the Commission at the request of such director, officer, committee member or employee and for good cause shown. Pending this hearing, the Administrator may remove the alleged violator if he finds that it is essential to the continued well-being of the credit union or the public to do so. Unless, of course, such director, officer, committee member or employee shall appear at the hearing in person or by a duly authorized representative, he shall be deemed to have consented to the issuance of an order of such removal. In the event of such consent, or if upon the record made at any such hearing the Credit Union Commission shall find that any of the grounds specified in such notice has been determined by the greater weight of the evidence, the Commission may issue such orders of removal from office as it may deem appropriate. Any such order shall become effective at the expiration of 30 days after service upon such credit union and the director, officer, committee member or employee concerned (except in the case of an order issued upon consent, which shall become effective at the time specified therein). Such order shall remain effective and enforceable except to such extent as it is stayed, modified, terminated or set aside by action of the Credit Union Commission or a reviewing court. (1979, c. 197, s. 1.)
NC Gen Stat § 54-109.22 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14C - Powers of Credit Union.|§ 54-109.22 - Incidental powers.

 54-109.22. Incidental powers.A credit union may exercise such incidental powers such as are necessary or requisite to enable it to promote and carry on most effectively its purposes. (1975, c. 538, s. 1.)
NC Gen Stat § 54-109.26 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14D - Membership.|§ 54-109.26 - "Membership" defined.

 54-109.26. "Membership" defined.(a) The membership of a credit union shall be limited to and consist of the subscribers to the articles of incorporation and such other persons within the common bond set forth in the bylaws as have been duly admitted members, have paid any required entrance fee or membership fee, or both, have subscribed for one or more shares, and have paid the initial installment thereon, and have complied with such other requirements as the articles of incorporation or bylaws specify.(b) Credit union membership may include groups having a common bond of similar occupation, association or interest, or groups who reside within an identifiable neighborhood, community, or rural district, or employees of a common employer, and members of the immediate family of such persons. (1915, c. 115, s. 6; C.S., s. 5230; 1925, c. 73, s. 3; 1935, c. 87; 1965, c. 956, s. 18; 1975, c. 538, s. 1.)
NC Gen Stat § 54-109.27 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14D - Membership.|§ 54-109.27 - Societies and other associations.

 54-109.27. Societies and other associations.Societies, and copartnerships composed primarily of individuals who are eligible to membership, and corporations whose stockholders are composed primarily of such individuals, may be admitted to membership in the same manner and under the same conditions as individuals, but may not borrow in excess of their shareholdings. Provided, however, secured loans in excess of shareholdings may be made to nonprofit societies, copartnerships, and corporations who are members. (1975, c. 538, s. 1; 1979, c. 809, s. 1.)
NC Gen Stat § 54-109.28 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14D - Membership.|§ 54-109.28 - Other credit unions.

 54-109.28. Other credit unions.Any credit union organized under Articles 14A to 14L of this Chapter may permit membership of any other credit union organized under Articles 14A to 14L of this Chapter or other acts. (1975, c. 538, s. 1.)
NC Gen Stat § 54-109.29 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14D - Membership.|§ 54-109.29 - Members who leave field.

 54-109.29. Members who leave field.Members who leave the field of membership may be permitted to retain their membership in the credit union as a matter of general policy of the board of directors. (1975, c. 538, s. 1.)
NC Gen Stat § 54-109.30 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14D - Membership.|§ 54-109.30 - Liability of shareholders.

 54-109.30. Liability of shareholders.A shareholder of any such corporation, unless the bylaws so provide, shall not be individually liable for the payment of its debts for an amount in excess of the par value of the shares which he owns or for which he has subscribed. (1975, c. 538, s. 1.)
NC Gen Stat § 54-109.31 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14D - Membership.|§ 54-109.31 - Meetings of members.

 54-109.31. Meetings of members.(a) The annual meeting and any special meetings of the members of the credit union shall be held at the time, place, and in the manner indicated by the bylaws.(b) At all such meetings, a member shall have but one vote, irrespective of his shareholdings. No member may vote by proxy, but a member may vote by absentee ballot if the bylaws of the credit union so provide.(c) A society, association, copartnership or corporation having membership in the credit union may be represented and have its vote cast by one of its members or shareholders, provided such person has been fully authorized by the organization's governing body.(d) The board of directors may establish a minimum age of 16 years of age as a qualification to vote at meetings of the members.(e) The board of directors may establish a minimum age of 18 years of age as a qualification to hold office. (1975, c. 538, s. 1.)
NC Gen Stat § 54-109.35 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14E - Direction of Affairs.|§ 54-109.35 - Election or appointment of officials.

 54-109.35. Election or appointment of officials.(a) The credit union shall be directed by a board of directors, at least five in number, to be elected at the annual members' meeting by and from the members. All members of the board shall hold office for such terms as the bylaws provide.(b) The board of directors at its first meeting after its election shall appoint a supervisory committee from the membership (no more than one of whom may be a member of the board of directors and none a member of the credit committee) of not less than three members who shall serve for such terms as may be fixed by the bylaws; or in lieu thereof, the bylaws may authorize the board of directors to employ and use such clerical and auditing assistants as may be required to perform the duties required by G.S. 54-109.49. The board of directors may remove or suspend any member of the supervisory committee for neglect of duty, misfeasance, malfeasance, official misconduct, or for other good cause shown.(c) The board of directors shall appoint a credit committee from the membership consisting of an odd number, not less than three, for such terms as the bylaws provide or, in lieu of a credit committee, appoint one or more loan officers from the membership and, in such instances, duties and responsibilities of the credit committee shall be carried out by such loan officer or officers. (1975, c. 538, s. 1.)
NC Gen Stat § 54-109.36 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14E - Direction of Affairs.|§ 54-109.36 - Record of board and committee members.

 54-109.36. Record of board and committee members.Within 15 days following the board of directors' initial or annual organization meeting, a record of the names and addresses of the members of the board, committees and all other officers of the credit union shall be filed with the Credit Union Division on forms provided by that Division. (1975, c. 538, s. 1.)
NC Gen Stat § 54-109.37 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14E - Direction of Affairs.|§ 54-109.37 - Vacancies.

 54-109.37. Vacancies.The board of directors shall fill any vacancies occurring in the board until successors elected at the next annual meeting have qualified. The board shall also fill vacancies in the credit and supervisory committees. (1975, c. 538, s. 1.)
NC Gen Stat § 54-109.38 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14E - Direction of Affairs.|§ 54-109.38 - Compensation of officials.

 54-109.38. Compensation of officials.No member of the board of directors or of the credit committee or supervisory committee shall be compensated for his service in this position, but providing reasonable life, health, accident and similar insurance protection for a director or committee member shall not be considered compensation. Directors and committee members, while on official business of the credit union, may be reimbursed for necessary and reasonable expenses incidental to the performance of the business. Such reimbursement may include the payment of expenses for one guest.  (1975, c. 538, s. 1; 2015-93, s. 5.)
NC Gen Stat § 54-109.39 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14E - Direction of Affairs.|§ 54-109.39 - Conflicts of interest.

 54-109.39. Conflicts of interest.No director, committee member, officer, agent or employee of the credit union shall in any manner, directly or indirectly, participate in the deliberation upon or the determination of any question affecting his pecuniary interest or the pecuniary interest of any corporation, partnership, or association (other than the credit union) in which he is directly or indirectly interested. (1975, c. 538, s. 1.)
NC Gen Stat § 54-109.40 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14E - Direction of Affairs.|§ 54-109.40 - Executive officers.

 54-109.40. Executive officers.(a) At their organization meeting and within 30 days following each annual meeting of the members, the directors shall elect from their own number an executive officer, who may be designated as chairman of the board or president; a vice-chairman of the board or one or more vice-presidents; a treasurer; and a secretary. The treasurer and the secretary may be the same individual. The persons so elected shall be the executive officers of the corporation.(b) The terms of the officers shall be one year, or until their successors are chosen and have duly qualified.(c) The duties of the officers shall be prescribed in the bylaws.(d) The board of directors may employ an officer in charge of operations whose title shall be either president and/or general manager; or, in lieu thereof, the board of directors may designate the treasurer or an assistant treasurer to act as general manager and be in active charge of the affairs of the credit union. (1975, c. 538, s. 1.)
NC Gen Stat § 54-109.41 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14E - Direction of Affairs.|§ 54-109.41 - Authority of directors.

 54-109.41. Authority of directors.The board of directors shall have the general direction of the business affairs, funds, and records of the credit union. (1975, c. 538, s. 1.)
NC Gen Stat § 54-109.42 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14E - Direction of Affairs.|§ 54-109.42 - Executive committee.

 54-109.42. Executive committee.From the persons elected to the board, the board may appoint 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 are prescribed by the board. (1975, c. 538, s. 1.)
NC Gen Stat § 54-109.43 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14E - Direction of Affairs.|§ 54-109.43 - Meetings of directors.

 54-109.43. Meetings of directors.The board of directors and the executive committee shall meet as often as the bylaws prescribe. (1915, c. 115, s. 8; C.S., s. 5232; 1975, c. 538, s. 1.)
NC Gen Stat § 54-109.44 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14E - Direction of Affairs.|§ 54-109.44 - Duties of directors.

 54-109.44. Duties of directors.It shall be the duty of the directors to:(1) Act upon applications for membership or to appoint one or more membership officers to approve applications for membership under such conditions as the board prescribes. A record of a membership officer's approval or denial of membership shall be available to the board of directors for inspection. A person denied membership by a membership officer may appeal the denial to the board;(2) Purchase a blanket fidelity bond, in accordance with any rules and regulations of the Administrator, to protect the credit union against losses caused by occurrences covered therein such as fraud, dishonesty, forgery, embezzlement, misappropriation, misapplication, or unfaithful performance of duty by a director, officer, employee, member of an official committee, attorney-at-law or other agent;(3) Determine from time to time the interest rate or rates consistent with Articles 14A to 14L of this Chapter, which shall be charged on loans and to authorize interest refunds, if any, to members from income earned and received in proportion to the interest paid by them on such classes of loans and under such conditions as the board prescribes;(4) Fix from time to time the maximum amount which may be loaned to any one member;(5) Declare dividends on shares in the manner and form as provided in the bylaws; and determine the interest rate or rates which will be paid on deposits;(6) Set the number of shares and the amount of deposits which may be owned by a member, such limitations to apply alike to all members;(7) Have charge of the investment of surplus funds, except that the board of directors may designate an investment committee or any qualified individual to have charge of making investments under controls established by the board of directors;(8) Authorize the employment of such persons necessary to carry on the business of the credit union;(9) Authorize the conveyance of property;(10) Borrow or lend money to carry on the functions of the credit union;(11) Designate a depository or depositories for the funds of the credit union;(12) Suspend any or all members of the credit or supervisory committee for failure to perform their duties;(13) Appoint any special committees deemed necessary; and(14) Perform such other duties as the members from time to time direct, and perform or authorize any action not inconsistent with Articles 14A to 14L of this Chapter and not specifically reserved by the bylaws for the members. (1915, c. 115, s. 10; C.S., s. 5234; 1957, c. 989, s. 5; 1965, c. 956, s. 20; 1973, c. 199, s. 9; 1975, c. 538, s. 1.)
NC Gen Stat § 54-109.45 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14E - Direction of Affairs.|§ 54-109.45 - Authority of credit committee.

 54-109.45. Authority of credit committee.The credit committee shall have the general supervision of all loans to members. (1915, c. 115, s. 11; C.S., s. 5235; 1961, c. 1187, s. 22; 1965, c. 956, s. 1; 1969, c. 69, s. 5; 1973, c. 199, s. 10; 1975, c. 538, s. 1.)
NC Gen Stat § 54-109.46 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14E - Direction of Affairs.|§ 54-109.46 - Meetings of credit committee.

 54-109.46. Meetings of credit committee.The credit committee shall meet as often as the business of the credit union requires and not less frequently than once a month to consider applications for loans. No loan shall be made unless it is approved by a majority of the committee who are present at the meeting at which the application is considered. (1915, c. 115, s. 11; C.S., s. 5235; 1961, c. 1187, s. 22; 1965, c. 956, s. 1; 1969, c. 69, s. 5; 1973, c. 199, s. 10; 1975, c. 538, s. 1.)
NC Gen Stat § 54-109.47 (2021)
2021 North Carolina General Statutes|Chapter 54 - Cooperative Organizations|Article 14E - Direction of Affairs.|§ 54-109.47 - Loan officers.

 54-109.47. Loan officers.(a) The credit committee may appoint one or more loan officers and delegate the power to approve loans, subject to such limitations or conditions as the credit committee prescribes.(b) Loan applications not approved by a loan officer shall be reviewed and acted upon by the credit committee. (1915, c. 115, s. 11; C.S., s. 5235; 1961, c. 1187, s. 22; 1965, c. 956, s. 1; 1969, c. 69, s. 5; 1973, c. 199, s. 10; 1975, c. 538, s. 1.)