Common use of Requirements of Membership Clause in Contracts

Requirements of Membership. To become a member of our Credit Union, you (as a person or business) must be in our field of membership as described in our Bylaws or Charter and open and maintain at least one share or savings account with the minimum required membership share or savings amount, as described in the Bylaws. If you are an owner, partner, principal, shareholder, or member of a business or organ- ization, that business may join as a member of the Credit Union and have its own accounts if it is principally comprised of people who are eligible for membership with us. Before opening the ac- count, we may require any authorized Person to provide proof that the business is lawfully formed (e.g., by production of Articles of Incorporation, Operating or Partnership Agreement, business license, etc.), and to establish both his or her authority to act as an authorized person for the account or service for the business (e.g., notarized board resolution, partnership letter, etc.) and his or her identity as an authorized person.

Requirements of Membership. To become a member of our Credit Union, you (as a person or business) must be in our field of membership as described in our Bylaws or Charter and open and maintain main- tain at least one share or savings account with the minimum required membership share or savings amount, as described in the Bylaws. If you are an owner, partner, principal, shareholder, or member of a business or organ- izationorganization, that business may join as a member of the Credit Union and have its own accounts if it is principally comprised of people who are eligible for membership with us. Before opening the ac- countaccount, we may require any authorized Person to provide proof that the business is lawfully formed (e.g., by production of Articles of Incorporation, Operating or Partnership Part- nership Agreement, business license, etc.), and to establish both his or her authority to act as an authorized person for the account or service for the business (e.g., notarized nota- rized board resolution, partnership letter, etc.) and his or her identity as an authorized autho- rized person.