N.Y. Banking Law Section 468
Oaths of directors, officers and members of committees


Each director, officer and member of a committee when first appointed or elected, shall take an oath that he will, so far as the duty devolves upon him, diligently and honestly administer the affairs of the credit union, and will not knowingly violate, or willingly permit to be violated, any of the provisions of law applicable to such corporation, and that he is the owner of at least one share subscribed for by him or standing in his name on the books of the credit union and that the same is not hypothecated, or in any way pledged as security for any loan or debt, except as permitted by subdivision four of § 456 (Limitations upon powers)section four hundred fifty-six of this chapter. The affirmation of share ownership need not be given by any director, officer and member of a committee of a corporate credit union. Such oath shall be subscribed by the directors, officers and members of committees making it and certified by any officer authorized by law to administer oaths, and immediately transmitted to the superintendent.

Source: Section 468 — Oaths of directors, officers and members of committees, https://www.­nysenate.­gov/legislation/laws/BNK/468 (updated Sep. 22, 2014; accessed Jun. 22, 2024).

450
Incorporation
450‑A
Designation of low income credit union
450‑B
Designation of student branches
451
Proposed bylaws
451‑A
Qualifications for membership
452
When corporate existence begins
453
Corporate credit unions
454
General powers
455
Trust powers
456
Limitations upon powers
457
Capital
458‑A
Maintenance of reserves
459
Allowance for loan loss
460
Dividends to shareholders
461
Change of location
462
Foreign credit unions
463
Exemptions and individual liability of shareholders
464
Manner of withdrawal
465
Withdrawal of shares after voting to liquidate
466
Meetings of shareholders
467
Qualifications and disqualifications of directors and committee members
468
Oaths of directors, officers and members of committees
469
Vacancies
470
Powers and duties of directors
471
Duty of directors and officers
472
Special duties of directors
473
Loan officers, credit committee
474
Loan reports to directors
475
Supervisory committee
476
Officers
477
Retirement and insurance benefits for officers and employees
478
Amendment of bylaws
479
Credit union not liable for taxation
480
Fiscal year
481
Communications from department of financial services must be submitted to directors and supervisory committee, and noted in the minutes
482
Reports to superintendent
483
Penalty for loans to non-members
484
Penalty for use of term “credit union”
485
Entries in books
486
Conversion of a federal credit union into a state credit union
486‑A
Retention of special additional mortgage recording tax exemption for converted federal credit unions
487
Conversion of a credit union into a federal credit union
487‑A
Conversion of a credit union into a mutual savings bank

Accessed:
Jun. 22, 2024

Last modified:
Sep. 22, 2014

§ 468’s source at nysenate​.gov

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