4 N.C. Admin. Code 6C.0308

Current through Register Vol. 39, No. 6, September 16, 2024

Section 06C .0308 - BORROWING LIMITATIONS

No credit union may borrow funds from any source in excess of 50 percent of its unimpaired capital without the written approval of the Administrator. Nonmember deposit accounts are considered to be borrowed funds.

04 N.C. Admin. Code 06C .0308

Authority G.S. 54-109.12;
Eff. February 1, 1976;
Readopted Eff. April 4, 1978;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. September 6, 2016.

Authority G.S. 54-109.12;
Eff. February 1, 1976;
Readopted Eff. April 4, 1978.