BANKS AND BANKING; LOAN ASSOCIATIONS; CREDIT UNIONS
CREDIT UNION ACT
Corporate Credit Union
383-E:13-1306 Powers and Privileges.
A corporate credit union shall enjoy the powers and privileges of any other credit union incorporated under this chapter. In addition to such powers and privileges, and notwithstanding any limitations or restrictions found elsewhere in this chapter, a corporate credit union may:
(a) Accept shares or deposits in any form from its members, from other state, regional or national credit unions, and from credit union organizations or associations;
(b) Make loans to credit unions, to other state, regional or national corporate credit unions, organizations or associations of credit unions, and to other members;
(c) Establish lines of credit for members and participate with other credit unions in making loans to its members under the terms and conditions determined by the board of directors;
(d) Invest in the shares of or make deposits in credit unions;
(e) Buy and sell any form of marketable debt obligations of domestic or foreign corporations or of federal, state or local government units;
(f) Borrow from any source without limitation, accept demand deposits from any source, and issue notes or debentures;
(g) Acquire or sell the assets and assume the liabilities of a member; and
(h) Enter into agreements with credit unions to discount or purchase loans made under government-guaranteed loan programs, real estate loans made by members or any obligations of the United States or any agency thereof held by members.
Source. 2015, 272:16, eff. Oct. 1, 2015.