Credit Union Act, 1997
Required signatories etc. |
70.—(1) None of the documents specified in subsection (2) shall be effective in law to bind a credit union unless signed by at least two officers of the credit union, one of whom shall be a member of the board of directors. | |
(2) The documents to which subsection (1) applies are any of the following, so far as not required by law to be under the seal of a credit union— | ||
(a) a conveyance or transfer of property of any description by a credit union; and | ||
(b) any other document which does not fall within section 55 (k) but by which a credit union enters into an obligation of any description. | ||
(3) If the rules of a credit union make provision as to the officers by whom documents to which subsection (1) applies are to be signed, a document which purports to be signed as required by that subsection shall not be invalid by reason of any failure to comply with any such provision of the rules. | ||
(4) The provisions of this section are without prejudice to any additional provisions as to signatures imposed by the Registrar by way of condition under section 49 . |