Section 394-B:35 Directors' Powers. - New Hampshire Statutes

The board of directors shall have the general direction of the affairs of the credit union, and shall meet monthly. It shall be the duty of the board to:
   I. Act upon all applications for membership or appoint a membership officer for such purpose and act upon all cases involving the possible expulsion of members;
   II. Determine the types of share and deposit accounts to be offered to its members;
   III. Determine the conditions on which shares and deposits may be paid in, transferred and withdrawn;
   IV. Determine the method of receipting for money paid on account of shares, deposits and loan repayments;
   V. Determine the maximum, if any, number of shares which may be held by one member;
   VI. Determine the rate of interest to be charged on loans;
   VII. Declare dividends;
   VIII. Declare interest refunds;
   IX. Declare interest on deposits;
   X. Fix the maximum amount to be loaned to any one member;
   XI. Provide for the compensation of necessary clerical auditing assistance requested by the supervisory committee;
   XII. Fix the amount of the entrance fee, if any;
   XIII. Fix and assess fees, fines, and charges, if any, for programs and services offered to members;
   XIV. Fill vacancies on the board of directors and supervisory committee until new members shall be elected and qualified;
   XV. Fill vacancies by appointment on the credit committee.

Source. 1983, 195:1, eff. Aug. 14, 1983.