State Codes and Statutes

Statutes > Rhode-island > Title-19 > Chapter-19-5 > 19-5-16

SECTION 19-5-16

§ 19-5-16 Maximum aggregate liability ofone person or company. – A credit union shall not permit any person or entity to borrow or guaranty,directly or indirectly, an amount(s), in the aggregate, which exceeds onepercent (1%) of its total assets or twenty percent (20%) of the totalunimpaired capital, whichever is greater. This limit shall not apply to a loanor loans secured by pledged shares or deposits in the credit union.

State Codes and Statutes

Statutes > Rhode-island > Title-19 > Chapter-19-5 > 19-5-16

SECTION 19-5-16

§ 19-5-16 Maximum aggregate liability ofone person or company. – A credit union shall not permit any person or entity to borrow or guaranty,directly or indirectly, an amount(s), in the aggregate, which exceeds onepercent (1%) of its total assets or twenty percent (20%) of the totalunimpaired capital, whichever is greater. This limit shall not apply to a loanor loans secured by pledged shares or deposits in the credit union.