TITLE 26

BANKS AND BANKING

CHAPTER 21

IDAHO CREDIT UNION ACT

26-2106.  AMENDMENT TO ARTICLES OF INCORPORATION AND BYLAWS — APPROVAL OF DIRECTOR — PROCEDURE. (1) A credit union’s articles of incorporation may be amended as provided in the articles of incorporation with approval of the director. Amendments to the articles of incorporation must be submitted to the director for approval. Amendments to the articles of incorporation are deemed to be approved by the director if the director does not deny them within thirty (30) days following receipt of the proposed amendments. Amendments to a credit union’s articles of incorporation must conform with section 26-2105, Idaho Code.

(2)  Upon approval by the director, the credit union shall promptly deliver amendments to the articles of incorporation, including any necessary filing fees, to the secretary of state for filing. Amendments to the articles of incorporation are effective upon approval by the director unless the amendments specify a different effective date.

(3)  A credit union’s bylaws may be amended as provided in the bylaws. A copy of any amendments to the bylaws must be mailed by certified mail return receipt requested to the department of finance or emailed to the department of finance with request for confirmation of receipt within twenty (20) days after the adoption thereof. In either case, delivery is effective as of the date of the department’s confirmation of receipt. Amendments to the bylaws become effective upon approval by the director unless the amendments specify a different date. Amendments to the bylaws are deemed to be approved by the director if the director does not deny them within thirty (30) days following receipt of the amendments.

History:

[26-2106, added 2020, ch. 230, sec. 2, p. 671; am. 2022, ch. 78, sec. 2, p. 218; am. 2024, ch. 130, sec. 3, p. 523.]