(a) Seven or more natural persons who desire to form a credit union shall subscribe before an officer competent to administer oaths, articles of incorporation in duplicate that must state
(1) the name of the credit union;
(2) the location of the credit union and the territory in which it will operate;
(3) the names and addresses of the subscribers to the certificate and the number of shares each subscribed;
(4) the par value of the shares, which must be a minimum of $5 each;
(5) the proposed field of membership specified in detail;
(6) the term of the existence of the credit union, which may be perpetual; and
(7) the fact that the articles of incorporation are adopted to enable the persons to avail themselves of the advantages of this chapter.
(b) The articles of incorporation must also include provisions required by the commissioner for the management of the business of the credit union, for the conduct of its affairs, and relating to the powers of its directors, officers, or stockholders.
(c) At the time of presenting the articles of incorporation to the commissioner the incorporators shall also submit proposed bylaws to the commissioner for approval. Except to the extent the articles of incorporation provide the structure and designate the offices, the bylaws shall provide the organizational structure of the credit union and specifically designate those offices that will be held by the executive or managing officers of the credit union. Copies of the original bylaws of the credit union and any amendments of the bylaws shall be filed with the commissioner.
(d) The commissioner may prepare form articles of incorporation and form bylaws, consistent with this chapter, which may be used by credit union incorporators and shall be supplied to them on request.
Structure Alaska Statutes
Title 6. Banks and Financial Institutions
Chapter 45. Alaska Credit Union Act
Sec. 06.45.010. Responsibility of commissioner.
Sec. 06.45.020. Formation of credit union.
Sec. 06.45.030. Approval of articles of incorporation and issuance of certificate of authority.
Sec. 06.45.050. Reports and examinations.
Sec. 06.45.060. Powers of a credit union; remedy for interest violations.
Sec. 06.45.080. Meetings of members.
Sec. 06.45.090. Management of credit union.
Sec. 06.45.110. Executive officers.
Sec. 06.45.120. Board of directors.
Sec. 06.45.130. Applications for membership.
Sec. 06.45.140. Powers and duties of credit committee.
Sec. 06.45.150. Loan restriction.
Sec. 06.45.170. Powers and duties of supervisory committee; suspension of committee members.
Sec. 06.45.200. Expulsion and withdrawal of members.
Sec. 06.45.210. Minors or trusts.
Sec. 06.45.220. Suspension, conditional operation, and liquidation.
Sec. 06.45.230. Exemption from taxation.
Sec. 06.45.250. Insurance of member accounts.
Sec. 06.45.260. Liquidity facility participation.
Sec. 06.45.270. Conflict of interest.
Sec. 06.45.290. Branch offices.
Sec. 06.45.295. Automated teller machines.
Sec. 06.45.300. Unauthorized conduct of credit union business.
Sec. 06.45.310. Transfer of credit union's property to preferred creditor is void.