370.005. Definitions.
Definitions.
370.005. As used in sections 370.005 to 370.400, the following termsmean:
(1) "Credit union", a not-for-profit corporation organized for thepurposes of encouraging thrift among its members, creating a source ofcredit at a fair and reasonable rate of interest, providing for the mutualbenefit and general welfare of its members with the earnings, savings,benefits, and services being distributed to its members, for financial andfinancially related services, and for an opportunity for its members toimprove their economic and social conditions;
(2) "Director", the director of the division of credit unions.
(L. 1977 H.B. 48, A.L. 1978 S.B. 746, A.L. 2007 S.B. 591)