186.03 Use of name exclusive.
186.03
186.03 Use of name exclusive.186.03(1)
(1) Limits. A person may not use a name containing the phrase "credit union", represent itself as a credit union or conduct business as a credit union unless the person is any of the following:186.03(1)(a)
(a) A credit union.186.03(1)(b)
(b) An association of credit unions.186.03(1)(c)
(c) An organization, association or corporation whose membership or ownership is primarily confined or restricted to credit unions.186.03(2)
(2) Use required. A credit union shall use the phrase "credit union" in its corporate name.186.03(3)
(3) Name approval. The office of credit unions shall approve a credit union's name before the name is officially adopted. A credit union may not adopt the name of another credit union doing business in this state.186.03(4)
(4) Penalty. Whoever violates this section may be fined not more than $5,000.186.03 - ANNOT.
History: 1971 c. 193 s. 42 (1); 1985 a. 127; 1993 a. 112; 1995 a. 27; 1995 a. 151 ss. 63, 64, 301.