Credit Union Expedited Application for Approval to Amend Agreement to Form - for Purpose of Name Change Only Pursuant to R. I. Gen. Laws 19-2-10 - Rhode Island

Credit Union Expedited Application for Approval to Amend Agreement to Form - for Purpose of Name Change Only Pursuant to R. I. Gen. Laws 19-2-10 is a legal document that was released by the Rhode Island Department of Business Regulation - a government authority operating within Rhode Island.

FAQ

Q: What is a Credit Union?A: A Credit Union is a financial cooperative owned and operated by its members, who are typically individuals with a common bond such as working for the same employer or living in the same community.

Q: What is an expedited application for approval to amend an agreement to form?A: An expedited application for approval to amend an agreement to form is a request to make a change to the original agreement that established a credit union, but in a faster than usual timeframe.

Q: What does it mean to amend an agreement for the purpose of name change only?A: Amending an agreement for the purpose of name change only means making a change to the credit union's official name without altering any other provisions or terms of the agreement.

Q: What is R. I. Gen. Laws 19-2-10?A: R. I. Gen. Laws 19-2-10 is a specific Rhode Island state law that governs the process of amending an agreement to form a credit union.

Q: What is the process for applying for an expedited name change for a credit union?A: The process for applying for an expedited name change for a credit union in Rhode Island involves submitting a special application for approval to amend the agreement to form, specifically indicating that the change is for the purpose of a name change only.

Q: Why would a credit union want to change its name?A: A credit union may want to change its name for various reasons such as rebranding, better reflecting its purpose or membership, or to comply with legal requirements.

Q: What are the legal requirements for changing the name of a credit union in Rhode Island?A: The legal requirements for changing the name of a credit union in Rhode Island include following the process outlined in R. I. Gen. Laws 19-2-10 and obtaining approval from the appropriate regulatory authorities.

Q: Can a credit union change its name without approval?A: No, a credit union cannot change its name without obtaining approval from the appropriate regulatory authorities as required by law.