(1) Upon payment of any required entrance or membership fee, payment of shares as required by the bylaws, and compliance with the bylaws, any person within the limited field of membership of a credit union may be admitted to its membership.
(2) Members of the credit union shall not be personally or individually liable for payment of the debts of the credit union.
(3) A credit union may close the account and terminate the membership of any member whose actions have resulted in any financial loss to the credit union or for good cause.
(4) Denial of membership hereunder shall not be considered to be a denial of credit.
History.—ss. 1, 6, ch. 80-258; ss. 2, 3, ch. 81-318; ss. 6, 46, ch. 82-214; s. 1, ch. 91-307; ss. 1, 83, ch. 92-303; s. 13, ch. 2005-181.
Structure Florida Statutes
Title XXXVIII - Banks and Banking
657.005 - Application for Authority to Organize a Credit Union; Investigation.
657.0061 - Amendments to Bylaws.
657.008 - Place of Doing Business.
657.021 - Board of Directors; Executive Committee Responsibilities; Oaths; Reports to the Office.
657.024 - Membership Meetings.
657.026 - Supervisory or Audit Committee.
657.027 - Credit Committee and Credit Manager.
657.028 - Activities of Directors, Officers, Committee Members, Employees, and Agents.
657.0335 - Additional Power to Restrict Withdrawals.
657.039 - Loan Powers; Extension of Credit to Directors and Certain Others.
657.041 - Insurance; Employee Benefit Plans.
657.042 - Investment Powers and Limitations.
657.053 - Assessments; State Credit Unions.
657.063 - Involuntary Liquidation.
657.064 - Voluntary Liquidation.
657.066 - Conversion From State Credit Union to Federal Credit Union and Conversely.