Title 12, Banks and BankingRelease 119-102
§1760 Members’ Meetings
Title 12 › CHAPTER 14 — FEDERAL CREDIT UNIONS › SUBCHAPTER I — GENERAL PROVISIONS › § 1760
Summary
Federal credit unions end their fiscal year on December 31, hold meetings per bylaws, and each member has one vote; proxies are banned, but non‑person members may vote through an agent.
Full Legal Text
Title 12, §1760
Banks and Banking, Source: USLM XML via OLRC
The fiscal year of all Federal credit unions shall end December 31. The annual meeting of each Federal credit union shall be held at such place as its bylaws shall prescribe. Special meetings may be held in the manner indicated in the bylaws. No member shall be entitled to vote by proxy, but a member other than a natural person may vote through an agent designated for the purpose. Irrespective of the number of shares held, no member shall have more than one vote.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1982—Pub. L. 97–320 struck out “at such time during the following January, February, or March and” after “shall be held”, and “by him” after “shares held”. 1963—Pub. L. 88–150 substituted “during the following January, February, or March” for “during the month of the following January”.
Reference
Citations & Metadata
Citation
12 U.S.C. § 1760
Title 12, Banks and Banking
Last Updated
Aug 21, 2026
Release point: 119-102