{"data":{"id":"us-dc/d.c.-code-26-502.03","jurisdiction":"us-dc","citation":"D.C. Code § 26-502.03","heading":"Form of charter statement and bylaws.","body":"(a)\nThe bylaws shall include the following provisions:\n(1)\nThe name of the District credit union;\n(2)\nThe field of membership of the District credit union;\n(3)\nQualifications for membership in the District credit union, including the minimum number of shares, the payment of an entrance or membership fee, if any, required for membership, and the policies for expelling a member;\n(4)\nThe number of directors, the length of terms a director may serve, and the permissible term length of any interim director;\n(5)\nThe qualifications for eligibility to serve on the District credit union's board;\n(6)\nThe number of District credit union employees that may serve on the board, if any;\n(7)\nThe frequency of regular meetings of the board and the manner in which members of the board are to be notified of those meetings;\n(8)\nThe powers and duties of board officers;\n(9)\nThe timing of the annual membership meeting;\n(10)\nThe manner in which vacancies shall be filled, which shall be either until a successor is elected at the next membership meeting or for the remainder of the unexpired term;\n(11)\nThe manner in which members may call a special membership meeting;\n(12)\nThe manner in which members are to be notified of membership meetings;\n(13)\nThe number of members constituting a quorum at a membership meeting and at a meeting of the board of directors;\n(14)\nProvisions, if any, for the indemnification of directors, officers, employees, and others by the District credit union, if not included in the articles of incorporation; and\n(15)\nAny other provision required by the Commissioner by rule.\n\n(b)\nThe Commissioner may provide a model District credit union charter statement and model District credit union bylaws consistent with this subchapter, which may be used by District credit union organizers in preparing a District credit union charter application.","path":["Title 26. Banks and Other Financial Institutions.","Chapter 5. Credit Unions.","Subchapter I. Credit Union Act of 2020.","Part B. Credit Union Organization."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/26-502.03","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"50d0c6b973ba33e52ebe89e1a6e0a3934d185d4fa5ac25444298ea82b0fac578","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-26-502.02","next":"us-dc/d.c.-code-26-502.04"},"notice":"GroundRules: Original legal text. Not legal advice."}