370.005 Definitions.

370.005. Definitions. — As used in sections 370.005 to 370.400 , the following terms mean:

(1) "Credit union" , a not-for-profit corporation organized for the purposes of encouraging thrift among its members, creating a source of credit at a fair and reasonable rate of interest, providing for the mutual benefit and general welfare of its members with the earnings, savings, benefits, and services being distributed to its members, for financial and financially related services, and for an opportunity for its members to improve their economic and social conditions;

(2) "Director" , the director of the division of credit unions.

(L. 1977 H.B. 48, A.L. 1978 S.B. 746, A.L. 2007 S.B. 591)