Membership in the Fund

(1) Subject to section 23, a domestic bank that is licensed and a credit union that is registered at the commencement of this Act shall be a Fund member from the effective date. (2) Subject to section 23, a domestic bank that is licensed or a credit union that is registered, after the commencement of this Act shall be a Fund member from the date on which it is licensed or registered. (3) The Corporation shall issue a certificate of membership to each Fund member and the Fund member shall prominently display a copy of the certificate at each place of business.