← belizelaw.ai · The Laws of Belize
Credit Unions
Cap. 314 · Revised Edition 2020 · 92 sections
- s. 1Short title
- s. 2Interpretation
- s. 3Restriction on use of the words “credit union”
- s. 4Cooperative principles
- s. 5Registrar of Credit Unions and Cooperatives
- s. 6Functions, obligations and powers of Registrar
- s. 7Application for registration and refusal of documents
- s. 8Conditions for registration
- s. 9Registration
- s. 10Effect of certificate of registration
- s. 11Credit unions to be bodies corporate
- s. 12Credit unions to conform to cooperative principles
- s. 13Common bond; registered office and branches
- s. 14Display of certificate and mandatory records
- s. 15Publication of name
- s. 16Standard by-laws and power of credit unions to make by-laws
- s. 17Power to amend by-laws
- s. 18Effect of registration of by-laws
- s. 19Alteration of objects of a credit union
- s. 20Cancellation of registration
- s. 21Qualifications for membership
- s. 22Membership rights and fees, etc
- s. 23Withdrawal, suspension, termination and re-admittance
- s. 24Voting and representational rights
- s. 25Rights and liabilities of members
- s. 26Annual general meetings and special meetings
- s. 27Board of Directors
- s. 28Supervisory Committee
- s. 29Credit Committee
- s. 30Capacity and powers
- s. 31Duty of care
- s. 32Misuse of confidential information
- s. 33Conflicts of interest
- s. 34Tenure of directors and committee members
- s. 35Joint meetings
- s. 36Misappropriation, etc
- s. 37Remuneration
- s. 38Fiscal year and scope of business
- s. 39Share capital and limitation on shareholding
- s. 40Restriction on transfer of share or interest
- s. 41Credit union not bound to see to Trust
- s. 42Charges and set-offs in respect of shares, etc
- s. 43Creation of charge in favour of credit union
- s. 44Assignment of charge
- s. 45Bond as additional security for loan
- s. 46Investment of funds
- s. 47Loans by credit unions
- s. 48Receipt of deposits
- s. 49Power of nomination and Register of Nominations
- s. 50Transfer of property, etc., on death of a member
- s. 51Liquid assets, Reserve Funds, etc
- s. 52Recovery of sums due to Government
- s. 53Apportionment of surplus
- s. 54Prudential standards of safety and soundness in operations
- s. 55Appointment of auditor, etc
- s. 56Qualifications of auditor
- s. 57Approval of annual financial statement and auditor’s report
- s. 58Annual returns, etc
- s. 59Financial reporting to members
- s. 60Powers of examination
- s. 61Appointment of Administrator
- s. 62Methods of reconstruction
- s. 63Amalgamation and transfer of engagements of credit unions
- s. 64Division of credit union
- s. 65Conversion into a credit union
- s. 66Settlement of disputes
- s. 67Case stated on questions of law, Tribunal, etc
- s. 68Winding up and ancillary matters
- s. 69Winding up by virtue of reduced membership and dormancy
- s. 70Voluntary dissolution
- s. 71Power of Registrar pursuant to winding up order
- s. 72Powers of Liquidator
- s. 73Power of Registrar to control Liquidator
- s. 74Cancellation of registration consequent upon winding up
- s. 75Disposal of surplus assets
- s. 76Power of Registrar to surcharge officers, etc
- s. 77Attachment of property
- s. 78Enforcement
- s. 79Limitation on jurisdiction of Civil Court
- s. 80Establishment and functions of Credit Union League
- s. 81Membership of League in other bodies
- s. 82Guidance of member credit unions, etc
- s. 83Corrupt practices and bribery
- s. 84Falsely obtaining property of credit union
- s. 85Failure to comply with Act
- s. 86Dealing in property subject to charge
- s. 87Penalty for offences not expressly provided for
- s. 88Evidence of documents, etc
- s. 89Disposal of fees
- s. 90Power to make rules
- s. 91Exemption from income tax, etc
- s. 92Repeal and transitional provisions