Every credit union authorized to do business in this State shall insure shares with
the National Credit Union Administration or the successor to such federal agency.
1997, c. 108, §12 (AMD)
2003, c. 322, §27 (RP)
3.Failure to obtain insurance.
2003, c. 322, §28 (RP)
A credit union insured pursuant to subsection 1 shall have the power and duty to
comply with all statutes and regulations governing insurance of shares by the National
Credit Union Administration; provided that nothing contained in this section shall
be construed as repealing, modifying or impairing any powers, duties, rights or responsibilities
of the superintendent, or of the credit union so insured, under the provisions of
1975, c. 500, §1 (NEW)
1975, c. 500, §1 (NEW).
RR 1997, c. 2, §37 (COR).
1997, c. 108, §12 (AMD).
2003, c. 322, §§27,28 (AMD).
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