Section 13-03-23-06 - Limitations on investments in and loans to credit union service organizations or subsidiary credit union service organizationsThe following limitations apply to state credit unions for investments in credit union service organizations or subsidiary credit union service organizations:
1. A credit union may not invest in shares, stocks, or obligations of credit union service organizations or subsidiary credit union service organizations in an amount exceeding ten percent of its net worth. 2. Credit unions may not make loans to a credit union service organization or subsidiary credit union service organizations in which it is affiliated in an amount exceeding ten percent of its net worth.N.D. Admin Code 13-03-23-06
Effective January 1, 2007; amended effective January 1, 2013.Amended by Administrative Rules Supplement 371, January 2019, effective 1/1/2019.General Authority: NDCC 6-01-04
Law Implemented: NDCC 6-06-06