(1) A credit union may relocate its head office and the location of its books and records upon written notice to the director.
(2)  A credit union may, under such rules as the director may adopt, establish branch offices at locations other than its head office. A credit union shall notify the director in writing at least thirty (30) days before opening a branch office location to conduct business.
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Terms Used In Idaho Code 26-2143

  • Capital: means the shares of a credit union. See Idaho Code 26-2104
  • 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
(3)  Prior to opening a branch office location, a credit union must obtain written approval from the director if:
(a)  The credit union is subject to an order issued by the director pursuant to this chapter;
(b)  The credit union’s current CAMELS rating or its current management or capital CAMELS component ratings, as issued by the director, is a "3," "4," or "5"; or
(c)  The location of a proposed branch office is outside of the credit union’s current field of membership if its membership is based on a well-defined neighborhood, community, or rural district.