SB 1318 — technical correction; credit unions; loans

SB1318 - 531R - IS Ver       REFERENCESenate TITLE:Engrossed       State of Arizona Senate Fifty-third Legislature First Regular Session     SENATE BILL 1318       AN ACT   amending section 38-296.01, arizona revised statutes;

technicalrelating correction;to candidates for public office.

credit unions;

loans       State of Arizona Senate Fifty-third Legislature First Regular Session     SB 1318   Introduced by Senator Montenegro     AN ACT   amending section 6-561, arizona revised statutes;

relating to credit unions.

Section 1.  Section 6-561,38-296.01, Arizona Revised Statutes, is amended to read:

START_STATUTE6-561.  PurposeSTART_STATUTE38-296.01.  Limitation on running for multiple offices A.  A person is not eligible to be a candidate for nomination or election to more than one public office if the elections for those offices are held on the same day and conditionsif ofthe loans;person would be prohibited from serving in the offices simultaneously.

prepaymentB.  A penaltiesperson A.  Ais creditnot unioneligible mayto makebe loans,a includingcandidate linesfor ofnomination credit,or election to membersmore forthan theone purposesfederal andoffice onsimultaneously.  This theineligibility conditionsdoes asnot theapply bylawsto provide.  Thecandidates boardfor nomination or election to the offices of directorspresident shalland establishvice-president.  writtenCandidates policiesfor withnomination respector election to the grantingoffices of loanspresident includingor thevice‑president terms,may conditionsbe andcandidates acceptablefor formsnomination ofor security.election to one additional federal office simultaneously.

B.  NoB.  C.  A person,person exceptis anothernot crediteligible union, may become indebted, directly or indirectly, to thebe credita unioncandidate for morenomination than ten per cent percent of the credit union's capital or twoelection hundredto dollars,and whichever is greater.  This limit does not applyeligible to loansserve whichsimultaneously thatin aremore fullythan securedone bystatewide assignmentoffice. of share or deposit accounts in the credit union.

C.  AnC.  D.  A applicationperson foris not eligible to be a loancandidate shallfor statenomination theor securityelection to and otheris informationnot requiredeligible byto theserve creditsimultaneously committeein ormore creditthan manager.one legislative office.

EachD.  E.  A loanperson shallis not eligible to be evidenceda bycandidate for nomination or election to and is not eligible to serve simultaneously in both a writtenlegislative document.office and a statewide office.

D.  AE.  F.  A memberperson mayis repaynot aeligible loanto orbe outstanding balance on a linecandidate offor creditnomination prioror election to beforeand maturityis innot wholeeligible orto inserve partsimultaneously on anymore businessthan dayone withoutschool penalty.  Exceptdistrict asgoverning providedboard, inexcept thisthat subsection,a prepaymentmember penaltiesof a governing board may be chargeda oncandidate memberfor businessnomination loansor aselection definedfor byany theother nationalgoverning creditboard unionif administrationthe member is serving in 12the Codelast year of Federala Regulationsterm sectionof 723.1.office.