Credit unions to be bodies corporate

(1) The registration of a credit union shall render it a body corporate by the name under which it is registered with perpetual succession and with power to hold property, to enter Credit Unions Act 19 into contracts, to borrow monies, to institute and defend suits and other legal proceedings and to do all things necessary for the purpose of its by-laws. (2) A credit union shall have the capacity to carry on its business, conduct its affairs and exercise its powers in any jurisdiction outside Belize to the extent that the laws of Belize and of that jurisdiction permit. (3) This section does not authorize any credit union to carry on any business or activity in breach of– (a) any enactment prohibiting or restricting the carrying on of the business or activity; or (b) any provision requiring any permission or license for the carrying on of the business or activity.