§412:10-412 - Participation loans.
§412:10-412 Participation loans. Participation loans to credit union members jointly with other credit unions, credit union service organizations, or financial organizations shall be in accordance with written policies of the board of directors. A credit union which originates a loan for which participation arrangements are made in accordance with this section shall retain an interest of at least ten per cent of the face amount of the loan. [L 1993, c 350, pt of §1]