7-9-43 - Board of Credit Union Advisors.
7-9-43. Board of Credit Union Advisors.
There is created a Board of Credit Union Advisors of five members to be appointed bythe governor.
(1) Members of the board shall be individuals who are familiar with and associated in thefield of credit unions.
(2) At least three of the members shall be persons who have had three or more years ofexperience as a credit union officer and shall be selected from a list submitted to the governor bythe Utah League of Credit Unions.
(3) The board shall meet quarterly.
(4) A chair of the advisory board shall be chosen each year from the membership of theadvisory board by a majority of the members present at the board's first meeting each year.
(5) (a) Except as required by Subsection (5)(b), as terms of current board membersexpire, the governor shall appoint each new member or reappointed member to a four-year term.
(b) Notwithstanding the requirements of Subsection (5)(a), the governor shall, at the timeof appointment or reappointment, adjust the length of terms to ensure that the terms of boardmembers are staggered so that approximately half of the board is appointed every two years.
(6) When a vacancy occurs in the membership for any reason, the replacement shall beappointed for the unexpired term.
(7) All members shall serve until their successors are appointed and qualified.
(8) A member may not receive compensation or benefits for the member's service, butmay receive per diem and travel expenses in accordance with:
(a) Section 63A-3-106;
(b) Section 63A-3-107; and
(c) rules made by the Division of Finance pursuant to Sections 63A-3-106 and63A-3-107.
(9) Meetings of the advisory board shall be held on the call of the chair. A majority ofthe members of the board shall constitute a quorum.
(10) The Board of Credit Union Advisors has the duty to advise the governor andcommissioner on problems relating to credit unions and to foster the interest and cooperation ofcredit unions in the improvement of their services to the people of the state.
Amended by Chapter 286, 2010 General Session
Amended by Chapter 324, 2010 General Session