A credit union incorporated under or subject to this title shall be deemed an institution for savings, and its assets, together with all the accumulation therein, shall not be subject to taxation except as to real estate owned by it. The shares of a credit union shall not be subject to a capital stock bonus tax or a stock transfer tax when issued by the corporation. CHAPTER 7 MEMBERS, DIRECTORS AND OFFICERS Sec. 701. Membership. 702. Meetings. 703. Voting rights and procedures. 704. Notice to members. 705. Expulsion, suspension and withdrawal. 706. Election of directors and credit and supervisory committee members. 707. Duties of directors generally. 708. Officers. 709. Compensation of directors and officers. 710. Executive committee. 711. Procedures for approving service by certain persons. 712. Indemnification and exoneration from liability of directors and officers. 713. Loan procedures. 714. Annual audit. 715. Actions by members to enforce a secondary right.
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