SEC. 81-13-41. Power to borrow.

A credit union shall have the power to borrow from any source, but the total of such borrowing shall at no time exceed fifty percent (50%) of the capital and surplus of the borrowing credit union.

SOURCES: Codes, 1930, Sec. 4250; 1942, Sec. 5411; Laws, 1924, ch. 177; 1975, ch. 444, Sec. 3; reenacted, 1982, ch. 304, Sec. 23; 1995, ch. 374, Sec. 23, eff from and after July 1, 1995

1997 Amendment

Reenacted.

SOURCE: 1997 Laws, Chapter 368, Sec. 22, HB561, Effective July 1, 1997.