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