Statutes, codes, and regulations
North Dakota Administrative Code
Title 13 - Department of Financial InstitutionsArticle 13-03 - Credit Unions
Chapter 13-03-02 - Limiting and Restricting the Amount That May be Loaned on Real Property Security
Section 13-03-02-07 - Exceptions

N.D. Admin. Code 13-03-02-07

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Current through Supplement No. 394, October, 2024
Section 13-03-02-07 - Exceptions

A credit union may make an exception to the loan-to-value limits under section 13-03-02-03 for loans from creditworthy borrowers. However, a credit union may not make such an exception if the loan would exceed one hundred fifty percent of the credit union's net worth when the loan is aggregated with all other loans in excess of the loan-to-value limits.

N.D. Admin Code 13-03-02-07

Effective October 1, 1997; amended effective January 1, 2013.

General Authority: NDCC 6-01-04

Law Implemented: NDCC 6-06-06