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RSA 383-E:5-508 · Borrowing

Title: BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
Chapter: 383-E · CREDIT UNION ACT
Status: current
Official source linked: Yes

Official source

383-E:5-508 Borrowing. –
The board of directors at any regular or special meeting may, by majority vote, authorize borrowing of specified amounts of money. At no time may the total borrowing exceed 30 percent of its total paid-in shares and deposits, guaranty fund, and undivided earnings without approval of the commissioner.
Source. 2015, 272:16, eff. Oct. 1, 2015.

Source note

Source. 2015, 272:16, eff. Oct. 1, 2015.

Source history

2015, 272:16, eff. Oct. 1, 2015