(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.
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Terms Used In Idaho Code 26-2106

  • Credit union: means a cooperative nonprofit corporation chartered under the provisions of this chapter. See Idaho Code 26-2104
  • Director: means the director of the department of finance of the state of Idaho. See Idaho Code 26-2104
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
(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 within twenty (20) days after the adoption thereof. Amendments to the bylaws become effective on 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.