Section 468. Oaths of directors, officers and members of committees  


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  • Each
      director, officer and member of a  committee  when  first  appointed  or
      elected,  shall  take  an oath that he will, so far as the duty devolves
      upon him, diligently and honestly administer the affairs of  the  credit
      union,  and  will  not  knowingly  violate,  or  willingly  permit to be
      violated, any of the provisions of law applicable to  such  corporation,
      and  that he is the owner of at least one share subscribed for by him or
      standing in his name on the books of the credit union and that the  same
      is  not  hypothecated, or in any way pledged as security for any loan or
      debt, except as permitted by subdivision four of  section  four  hundred
      fifty-six  of this chapter.  The affirmation of share ownership need not
      be given by any director,  officer  and  member  of  a  committee  of  a
      corporate credit union.  Such oath shall be subscribed by the directors,
      officers  and  members  of  committees  making  it  and certified by any
      officer  authorized  by  law  to  administer  oaths,   and   immediately
      transmitted to the superintendent.