§412:10-202 - Credit union service organizations.
§412:10-202 Credit union service organizations. A credit union may invest its funds in shares, stocks, or obligations of credit union service organizations providing services which are associated with the routine operations of credit unions, up to one per cent of the capital of the credit union. This authority does not include the power to acquire control directly or indirectly, of another financial institution. Loans to credit union service organizations shall not exceed one per cent of the capital of the credit union. The one per cent limitation on loans to credit union service organizations is independent of, and in addition to, the one per cent limitation on investment in credit union service organizations. [L 1993, c 350, pt of §1]