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This entry was published on 2014-09-22
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SECTION 468
Oaths of directors, officers and members of committees
Banking (BNK) CHAPTER 2, ARTICLE 11
§ 468. Oaths of directors, officers and members of committees. Each
director, officer and member of a committee when first appointed or
elected, shall take an oath that he will, so far as the duty devolves
upon him, diligently and honestly administer the affairs of the credit
union, and will not knowingly violate, or willingly permit to be
violated, any of the provisions of law applicable to such corporation,
and that he is the owner of at least one share subscribed for by him or
standing in his name on the books of the credit union and that the same
is not hypothecated, or in any way pledged as security for any loan or
debt, except as permitted by subdivision four of section four hundred
fifty-six of this chapter. The affirmation of share ownership need not
be given by any director, officer and member of a committee of a
corporate credit union. Such oath shall be subscribed by the directors,
officers and members of committees making it and certified by any
officer authorized by law to administer oaths, and immediately
transmitted to the superintendent.