reglab/housing_qa huggingface dataset:
DC Code § 26-502.09 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part B - Credit Union Organization|§ 26-502.09. Conducting business outside the District of Columbia

(a) A District credit union may conduct business outside of the District upon approval from the Commissioner. The Commissioner shall approve a District credit union's request to conduct business outside of the District if: (1) The non-District jurisdiction permits the District credit union to conduct business in that jurisdiction; and (2) The Commissioner does not identify any safety or soundness implications with the expanding operations. (b)(1) If the laws or regulations governing credit unions in a non-District jurisdiction permit a District credit union operating in that jurisdiction to exercise additional powers not expressly permitted under this subchapter, a District credit union conducting business in that non-District jurisdiction may request permission from the Commissioner to exercise those additional powers in the District. The Commissioner shall approve the exercise of additional power unless there are demonstrable safety and soundness implications. (2) The District credit union may exercise the additional power referenced in this subsection in the District if the Commissioner approves the District credit union's request to exercise additional power within 60 days after receiving a completed request. The request shall be deemed disapproved if the Commissioner does not act within 60 days after receiving a completed request. (c) The Commissioner may enter into supervisory agreements or other agreements with credit union regulators in other states or jurisdictions to prescribe the applicable rules governing the powers and authorities of foreign branches and other facilities of District credit unions.  (May 6, 2020, D.C. Law 23-86, § 209, 67 DCR 3476.)
DC Code § 26-503.02 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part C - Credit Union Powers|§ 26-503.02. Incidental powers

A District credit union may exercise all incidental powers as permitted by law and within the purposes stated in this subchapter, which are convenient, suitable, or necessary to enable the District credit union to carry out the purposes of this subchapter.  (May 6, 2020, D.C. Law 23-86, § 302, 67 DCR 3476.)
DC Code § 26-503.03 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part C - Credit Union Powers|§ 26-503.03. Parity

The Commissioner may authorize District credit unions to exercise, and the Commissioner may establish conditions or limitations for the exercise of, any of the powers conferred upon federal credit unions and upon foreign credit unions operating in the District.  (May 6, 2020, D.C. Law 23-86, § 303, 67 DCR 3476.)
DC Code § 26-504.01 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part D - Credit Union Membership|§ 26-504.01. Membership

(a) The board of directors of a District credit union shall determine the membership of the District credit union, which shall consist of persons who have been duly admitted as members. (b) Each person otherwise eligible for membership to become or remain a member of a District credit union shall purchase and maintain a share, share draft, or share certificate account in the minimum amount required by the District credit union. (c) A member may make an initial installment on the purchase of a membership share and complete the purchase by no more than 6 months from the payment of the first installment. (d) If the balance in any of a member's accounts is less than the minimum balance required for a membership share, the member shall restore the balance to the minimum within 6 months of having fallen below the minimum balance, or the membership may be terminated pursuant to § 26-504.07. (e) In the case of a joint account, each joint account holder may apply for membership, and, if the District credit union's bylaws so provide, each member may maintain the joint account only so long as the balance is at least equal to the membership share amount for each member. A joint account does not entitle the joint account holder to a vote. (f) Each member is entitled to one vote, regardless of the number of shares held by that member.  (May 6, 2020, D.C. Law 23-86, § 401, 67 DCR 3476.)
DC Code § 26-504.02 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part D - Credit Union Membership|§ 26-504.02. Organizations that qualify for District credit union membership

Any incorporated or unincorporated organization, and the organization's employees, may be admitted to membership in a District credit union in the same manner and under the same conditions as individuals.  (May 6, 2020, D.C. Law 23-86, § 402, 67 DCR 3476.)
DC Code § 26-504.03 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part D - Credit Union Membership|§ 26-504.03. Service to low-income consumers

(a) A District credit union, including a District credit union in the process of incorporating under this subchapter, may submit an application to the Commissioner to be designated as a low-income credit union. (b)(1) The Commissioner may approve an application for designation as a low-income credit union if the Commissioner determined that 50% or more of the members to be served by the District credit union: (A) Reside within a recognizable geographic area primarily located in a low-income area; or (B) Are qualified to receive benefits from any program designed to revitalize the local economy or assist the economically disadvantaged. (2) For purposes of this subsection, the following shall be deemed to satisfy the requirements of this subsection: (A) Natural persons enrolled as full-time or part-time students in a college, university, high school, or vocational school; and (B) Members of the United States military on active duty and stationed overseas. (c) The Commissioner shall develop the application specified in subsection (a) of this section by rule. (d) The Commissioner shall approve or disapprove an application to be designated as a low-income credit union within 60 days of receiving a complete application; except, that where the application is submitted as part of the charter application, as described in § 26-502.02, the application to be designated as a low-income credit union shall be approved or disapproved in the same time period and manner prescribed in § 26-502.02(a)(3) and (b). (e) In addition to the powers granted under this part, a low-income credit union may receive funds from non-members and supplemental capital from members and non-members. (f)(1) The Commissioner shall regulate the offer and sale of supplemental capital. Regulations promulgated by the Commissioner shall address issues of safety and soundness, including the maturity of the supplemental capital, terms of sale, terms of capital, total amount of supplemental capital that may be outstanding at one time, redemption, and eligibility of the investors. In addition, supplemental capital: (A) Shall be established as an uninsured supplemental capital or other form of non-share account; (B) May not be insured by the National Credit Union Share Insurance Fund ("NCUSIF") or any other governmental or private entity; and (C) May not be pledged or provided by the accountholder as a security on a loan or other obligation with the low-income credit union or any other party. (2) A supplemental capital holder's claim against a low-income credit union shall be subordinate to all other claims against the low-income credit union, including those of shareholder's creditors, the NCUSIF, and an approved insurer. (g) The supplemental capital authorized in this section shall not limit the authority of the Commissioner to approve other forms of equity capital.  (May 6, 2020, D.C. Law 23-86, § 403, 67 DCR 3476.)
DC Code § 26-504.04 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part D - Credit Union Membership|§ 26-504.04. School service facilities

(a) For the purposes of this section, the term: (1) "School" means any accredited educational institution. (2) "Student" means an individual enrolled in a school. (3) "Student service facility" means a District credit union facility that provides in-school financial services and offers financial education to students. (b) A District credit union may, upon agreement with a school's governing body, open and maintain a student service facility.  (May 6, 2020, D.C. Law 23-86, § 404, 67 DCR 3476.)
DC Code § 26-504.05 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part D - Credit Union Membership|§ 26-504.05. Retention of membership

Unless the District credit union's bylaws state otherwise, a person who has become a member of a District credit union in accordance with this subchapter may remain a member of that District credit union until that person chooses to withdraw from the membership of the District credit union, or is terminated under § 26-504.07.  (May 6, 2020, D.C. Law 23-86, § 405, 67 DCR 3476.)
DC Code § 26-504.06 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part D - Credit Union Membership|§ 26-504.06. Liability of members

The members of a District credit union shall not be personally or individually liable for the payment of the District credit union's debts solely by virtue of their membership in the District credit union.  (May 6, 2020, D.C. Law 23-86, § 406, 67 DCR 3476.)
DC Code § 26-504.07 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part D - Credit Union Membership|§ 26-504.07. Termination of membership

(a)(1) For the purposes of this section, the term "cause" includes a loss to the District credit union, a violation of the membership agreement or any policy or procedure adopted by the board, or inappropriate behavior such as physical or verbal abuse of a District credit union member or staff. (2) All members shall be given written notice of all policies and procedures that have been adopted by the board. (b) The board of directors may expel a member for cause by a majority vote of a quorum of the board of directors, pursuant to a written policy adopted by the board. A person expelled by the board shall have the right to request a hearing before the board to reconsider the expulsion. (c) Consistent with § 26-504.01(d), a District credit union may terminate the membership of any member who withdraws his or her shares to less than one par share. (d) A person whose membership has been terminated, whether by withdrawal or expulsion, shall have no further rights in the District credit union but is not released from any obligation owed to the District credit union. (e) A person who has been expelled as provided by this subchapter may not be readmitted to membership except upon approval by a majority vote of the board after application and proof that the expelled person remains within the District credit union's field of membership, has adequately explained, addressed, or remedied the conditions leading to expulsion, and will abide by the terms and conditions of membership. Only one application for readmission may be submitted within a 12-month calendar period.  (May 6, 2020, D.C. Law 23-86, § 407, 67 DCR 3476.)
DC Code § 26-504.08 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part D - Credit Union Membership|§ 26-504.08. Suspension of services

A District credit union may, for cause, as defined in § 26-504.07, suspend certain services to a District credit union member under a policy adopted by the District credit union's board of directors. Members whose service is suspended may maintain a share account and continue to vote at annual and special meetings.  (May 6, 2020, D.C. Law 23-86, § 408, 67 DCR 3476.)
DC Code § 26-504.09 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part D - Credit Union Membership|§ 26-504.09. Meetings of members

(a) The annual meeting, and any special meetings, of the members of the District credit union shall be held in accordance with the District credit union's bylaws. (b) There shall be no voting by proxy, except on the election of the board of directors, proposals for merger, or proposals for voluntary dissolution. All voting on the election of directors shall be by ballot, but when there is no contest, written ballots need not be cast. A member may vote by absentee ballot, mail ballot, or other method if the bylaws so provide. (c) A member who is less than 18 years of age may not vote or hold office in the District credit union. (d) An organization having membership in a District credit union may be represented and have its vote cast by an officer of the organization or a designated agent authorized by the organization's governing body. A copy of the authorization shall be provided to the District credit union before a vote is cast by a designated agent of the organization.  (May 6, 2020, D.C. Law 23-86, § 409, 67 DCR 3476.)
DC Code § 26-504.10 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part D - Credit Union Membership|§ 26-504.10. Special membership meetings

A District credit union's bylaws may prescribe the manner in which a special meeting of the members may be called by the members or the board of directors, or both.  (May 6, 2020, D.C. Law 23-86, § 410, 67 DCR 3476.)
DC Code § 26-505.01 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part E - Credit Union Governance|§ 26-505.01. Authority and duty of a board of directors

(a) The business and affairs of a District credit union shall be managed by the board of directors of the District credit union. The duties of the board of directors of a District credit union include the following duties: (1) The board of directors shall: (A) Set the par value of shares, if any, of the District credit union; (B) Set the minimum number of shares, if any, required for membership; (C) Designate those persons or positions authorized to execute or certify documents or records on behalf of the District credit union; (D) Authorize the purchase of adequate fidelity and insurance coverage for officers, directors, committee members, and employees, and for losses caused by persons outside the District credit union for which the District credit union may be liable; (E) Authorize the employment and compensation of the chief executive officer; (F) Approve an annual operating budget for the District credit union; (G) Authorize the conveyance or lease of real property; (H) Review and approve the annual audit; (I) Appoint any committees the board considers necessary; (J) Establish conditions under which a member may be removed for cause, as defined in § 26-504.07; and (K) Perform any other duties, or authorize any other actions, that are not inconsistent with this subchapter or the District credit union's bylaws. (2) The board of directors shall: (A) Establish policies under which the District credit union may borrow, lend, and invest money to carry on the functions of the District credit union; (B) Act upon applications for membership in the District credit union; (C) Establish the loan policies under which loans may be approved; (D) Determine the amount that may be loaned to a member together with the terms and conditions of the loan; (E) Declare dividends on shares and set the rate of interest on deposits; and (F) Approve the charge-off of District credit union losses. (b) The duties listed in subsection (a)(1) of this section shall not be delegated by the District credit union's board of directors. The duties listed subsection (a)(2) of this section may be delegated to a committee, officer, or employee of the District credit union with appropriate reporting to the board.  (May 6, 2020, D.C. Law 23-86, § 501, 67 DCR 3476.)
DC Code § 26-505.02 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part E - Credit Union Governance|§ 26-505.02. Election of a board of directors

(a)(1) A board of directors shall: (A) Consist of an odd number of directors; (B) Be at least 5 in number; and (C) Be elected by and from natural person members. (2) A District credit union's bylaws shall set forth the qualifications for nomination to the board. (b) All members of the board of directors shall hold office for the terms provided for in the bylaws. Terms may be staggered so that an approximately equal number of terms expire each year. (c) A director shall hold office for the term for which the director was elected and until a successor is elected and qualified.  (May 6, 2020, D.C. Law 23-86, § 502, 67 DCR 3476.)
DC Code § 26-505.03 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part E - Credit Union Governance|§ 26-505.03. Appointment of committees

(a) The board of directors shall appoint an audit committee of no fewer than 3 members of the District credit union, who may, but need be, members of the board of directors. The board shall appoint the audit committee at an organizational meeting held within 30 days of each annual election of directors for the terms provided in the bylaws. (b) The board of directors may appoint other committees necessary or convenient to the operation of the District credit union. (c) Unless specifically prohibited by the bylaws, committee members may participate in and act at any meeting of the committee through the use of communications equipment; provided, that all persons participating in the meeting can speak with and hear each other at the same time. Participation in a meeting in this manner shall constitute attendance. (d) Unless specifically prohibited by the bylaws, any action required by this subchapter to be taken at a committee meeting, or any other action that may be taken at a committee meeting, may be taken without a meeting if all members of the committee sign a consent to the action in a writing that sets forth the action. Consent shall be evidenced by one or more written approvals, which describe the action taken and bear the signature of one or more committee members.  (May 6, 2020, D.C. Law 23-86, § 503, 67 DCR 3476.)
DC Code § 26-505.04 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part E - Credit Union Governance|§ 26-505.04. Vacancies

(a) A seat on a District credit union's board of directors or on one of the District credit union's committees will be considered vacant if a board or committee member: (1) Resigns from his or her position on the board or committee; (2) Is removed from the board or committee; (3) Is unable to carry out his or her duties as a board or committee member; or (4) Is made ineligible by operation of law. (b) The board of directors shall fill any vacancies occurring on the board or on any board-appointed committee from among the District credit union's natural person members.  (May 6, 2020, D.C. Law 23-86, § 504, 67 DCR 3476.)
DC Code § 26-505.05 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part E - Credit Union Governance|§ 26-505.05. Compensation of officials

(a)(1) A District credit union may compensate an officer, director, or committee member for the member's services to the District credit union. (2) Life, health, accident, and similar insurance protection provided by a District credit union to an officer, director, or committee member shall not be considered compensation. (b) A District credit union may reimburse directors, officers, and committee members for necessary expenses incidental to the performance of the official business of the District credit union.  (May 6, 2020, D.C. Law 23-86, § 505, 67 DCR 3476.)
DC Code § 26-505.06 (2021)
2021 District of Columbia Code|Title 26 - Banks and Other Financial Institutions|Chapter 5 - Credit Unions|Subchapter I - Credit Union Act of 2020|Part E - Credit Union Governance|§ 26-505.06. Limited liability of directors and officers

(a) No director or officer of a District credit union shall be liable, and no cause of action may be brought against a director or officer of a District credit union, for damages resulting from: (1) The exercise of judgment or discretion in connection with the duties or responsibilities of the director or officer unless the act or omission involved willful or wanton conduct; or (2) An act or omission in rendering official service unless the act or omission involved willful or wanton conduct. (b) For the purposes of this section, the term "willful or wanton conduct" means a course of action that shows an actual or deliberate intention to cause harm or violate a statute, or, if not intentional, shows an utter indifference to, or conscious disregard for, the safety of others or their property. (c) Nothing in this section is intended to bar any cause of action against a District credit union or to change the liability of a District credit union arising out of an act or omission of any director, officer, or person exempt from liability for negligence under this section. (d) In discharging his or her duties, a director may rely on information, opinions, reports, or statements, including financial statements and other financial data, if prepared or presented by: (1) One or more officers or employees of the District credit union whom the director reasonably believes to be reliable and competent in the matters presented; (2) Legal counsel, public accountants, or other persons as to matters the director reasonably believes are within the person's professional or expert competence; or (3) A committee of the board of directors of which the director is not a member if the director reasonably believes the committee merits confidence. (e) A director may not rely on information, opinions, reports, or statements described in subsection (d) of this section if the director has knowledge concerning the matter in question that makes reliance on the information, opinion, report, or statement unwarranted. (f) A director is not liable for any action taken as a director or for any failure to take any action if the director performed the duties of the director's office in compliance with this section.  (May 6, 2020, D.C. Law 23-86, § 506, 67 DCR 3476.)