Maine Revised Statutes

§822. Borrowing

1. Limitation.  A credit union may borrow moneys from any source; provided that its aggregate borrowing shall not exceed 50% of its paid-in share capital and total surplus.
[ 1975, c. 500, §1 (NEW) .]
2. Exceeding limitation.  Upon making application to and receiving the written approval of the superintendent, a credit union may borrow in excess of the limitation set forth in subsection 1, but not in excess of the amount stated in such approval.
[ 1975, c. 500, §1 (NEW) .]
SECTION HISTORY
1975, c. 500, §1 (NEW).