17-2215.   Power to borrow money; ability to discount or sell to federalintermediate credit bank.A credit union shall have the power to borrow from any source, subject tospecial orders of or in accordance with such rules and regulations as maybe prescribed by the administrator, but thetotal of such borrowing shall at no time exceed 50% ofthe capital, surplus and reserve fund of the borrowing credit union. Anycredit union may discount with or sell to any federal intermediate creditbank any eligible obligations up to the amount of its shares and share certificates.

      History:   L. 1929, ch. 141, § 15; L. 1981, ch. 101, § 4; July 1.