N.D. Admin. Code 13-03-04-01

Current through Supplement No. 394, October, 2024

Section 13-03-04-01 - Maximum investment in fixed assets to be determined by state credit union board

No credit union organized and operating under the laws of North Dakota shall invest more than the greater of six percent of assets or fifty percent of net worth, but not to exceed ten percent of assets, in a credit union land and building and other fixed assets, without first applying for and obtaining approval from the state credit union board.

N.D. Admin Code 13-03-04-01

Amended effective June 1, 1984; January 1, 2007; January 1, 2013.

Amended by Administrative Rules Supplement 371, January 2019, effective 1/1/2019.

Amended by Administrative Rules Supplement 2022-384, April 2022, effective 4/1/2022.

General Authority: NDCC 6-01-04

Law Implemented: NDCC 6-06-06