State Codes and Statutes
Statutes > North-carolina > Chapter_54 > GS_54-109_67§54‑109.67. Loan limit.
No loan shall be made to anymember in an aggregate amount in excess of ten percent (10%) of the creditunion's unimpaired capital and surplus. In accordance with the bylaws andsubject to such rules and regulations as the Administrator may prescribe, theboard of directors shall determine and set the maximum unsecured loan limitssubject to the limitation contained in the preceding sentence. (1915,c. 115, s. 19; 1917, c. 232, s. 4; C.S., s. 5220; 1925, c. 73, s. 3; 1935, c.87; 1955, c. 1135, s. 2; 1961, c. 1187, s. 1; 1965, c. 956, ss. 1, 12, 13;1969, c. 69, s. 9; 1973, c. 199, s. 5; 1975, c. 538, s. 1; 1983, c. 568, s. 5.)
