TITLE 26

BANKS AND BANKING

CHAPTER 21

IDAHO CREDIT UNION ACT

26-2182.  Shares and deposits. (a) A share is defined as a term applied to each one hundred dollars ($100) standing to the share account of a member. The shares of a credit union shall all be common shares of one (1) class and shall have a par value of one hundred dollars ($100) per share. No certificate shall be issued to denote ownership of a share in the credit union.

(b)  In the event of default, the Idaho corporate credit union shall have and may exercise a lien on the shares of any member for any sum due the credit union from said member.

History:

[26-2182, added 1977, ch. 213, sec. 2, p. 616.]