(a) A corporate creditunion may be incorporated under this Article and shall be subject to all partsof this Chapter not inconsistent with this Article.
(b) A corporate creditunion is a cooperative nonprofit association whose members consist primarily ofother credit unions and whose purposes are:
(1) To accumulate andprudently manage the liquidity of its member credit unions throughinterlending and investment services;
(2) To act as anintermediary for credit union funds between members and other corporate creditunions;
(3) To obtain liquidfunds from other credit union organizations, financial intermediaries, andother sources;
(4) To foster andpromote in cooperation with other state, regional, and national corporatecredit unions and credit union organizations or associations the economicsecurity, growth and development of member credit unions; and
(5) To perform suchother financial services of benefit to its members which are authorized by theAdministrator of Credit Unions. (1983, c. 470.)
(a) A corporate creditunion may be incorporated under this Article and shall be subject to all partsof this Chapter not inconsistent with this Article.
(b) A corporate creditunion is a cooperative nonprofit association whose members consist primarily ofother credit unions and whose purposes are:
(1) To accumulate andprudently manage the liquidity of its member credit unions throughinterlending and investment services;
(2) To act as anintermediary for credit union funds between members and other corporate creditunions;
(3) To obtain liquidfunds from other credit union organizations, financial intermediaries, andother sources;
(4) To foster andpromote in cooperation with other state, regional, and national corporatecredit unions and credit union organizations or associations the economicsecurity, growth and development of member credit unions; and
(5) To perform suchother financial services of benefit to its members which are authorized by theAdministrator of Credit Unions. (1983, c. 470.)
(a) A corporate creditunion may be incorporated under this Article and shall be subject to all partsof this Chapter not inconsistent with this Article.
(b) A corporate creditunion is a cooperative nonprofit association whose members consist primarily ofother credit unions and whose purposes are:
(1) To accumulate andprudently manage the liquidity of its member credit unions throughinterlending and investment services;
(2) To act as anintermediary for credit union funds between members and other corporate creditunions;
(3) To obtain liquidfunds from other credit union organizations, financial intermediaries, andother sources;
(4) To foster andpromote in cooperation with other state, regional, and national corporatecredit unions and credit union organizations or associations the economicsecurity, growth and development of member credit unions; and
(5) To perform suchother financial services of benefit to its members which are authorized by theAdministrator of Credit Unions. (1983, c. 470.)
