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2023 Indiana Code
Title 28. Financial Institutions
Article 7. Specialized Financial Institutions
Chapter 2.5. Conservatorship of Credit Unions
28-7-2.5-7. Loans in Aid of Operation or Reorganization; Security
Universal Citation:
IN Code § 28-7-2.5-7 (2023)
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Sec. 7. With the prior approval of the department, a conservator appointed under this chapter may borrow money as necessary or expedient to aid in the operation or reorganization of the credit union. Any loan obtained by the conservator under this section may be secured by the pledge or mortgage of, or through a lien upon or security interest in, the assets of the credit union.
As added by P.L.10-2006, SEC.37 and P.L.57-2006, SEC.37.
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