12 U.S.C. § 1765

Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)

Section 1765 - Minors

Shares may be issued in the name of a minor or in trust, subject to such conditions as may be prescribed by the bylaws. When shares are issued in trust, the name of the beneficiary shall be disclosed to the Federal credit union.

12 U.S.C. § 1765

June 26, 1934, ch. 750, title I, §119, formerly §15, 48 Stat. 1221; renumbered §20, and amended Pub. L. 86-354 §1, Sept. 22, 1959, 73 Stat. 634; renumbered title I, §119, Pub. L. 91-468 §1(2), Oct. 19, 1970, 84 Stat. 994.

EDITORIAL NOTES

AMENDMENTS1959- Pub. L. 86-354 substituted "When shares are issued in trust, the" for "The" in second sentence.

credit

The term "credit" means the right granted by a person to a consumer to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment for such purchase.