12 CFR §725.3

1. (a)A natural person credit union may become a Regular member of the Facility by:
   1. (1)Making application on a form approved by the Facility;
   2. (2)Subscribing to capital stock of the Facility in an amount equal to one-half of 1 percent of the credit union's paid-in and unimpaired capital and surplus, as determined in accordance with § 725.5(b) of this part, and forwarding with its completed application funds equal to one-half of this stock subscription; and
   3. (3)Furnishing the following reports and documents with the completed membership application:
      1. (i)A copy of the credit union's financial and statistical report for the most recent calendar month; and
      2. (ii)Copies of the credit union's charter and bylaws, unless the credit union is federally chartered.
2. (b)[Reserved]