§412:10-103 - Application for charter.
§412:10-103 Application for charter. (a) Five or more residents of this State who share a common bond may file an application with the commissioner to engage in the business of a credit union.
(b) The application shall contain the following information, unless waived by the commissioner:
(1) The proposed name of the credit union;
(2) Proposed lease agreements for its principal office;
(3) The territory in which the proposed credit union will operate;
(4) A business plan;
(5) Employment history, education, management experience, and other biographical information for all original chartering applicants, and proposed executive officers of the credit union;
(6) Proposed policies regarding loans, investments, operations, accounting, recordkeeping, and applicable federal and state consumer laws;
(7) Information necessary to conduct a criminal history record check in accordance with section 846-2.7 of each of the original chartering applicants and proposed executive officers of the credit union, accompanied by payment of the applicable fee for each record check to be conducted; and
(8) Any other information that the commissioner may require.
(c) The application shall be submitted on a form prescribed by the commissioner. The application shall be accompanied by a fee as the commissioner shall establish by rule, no part of which shall be refundable. [L 1993, c 350, pt of §1; am L 2008, c 196, §8]