2013 New Jersey Revised Statutes
Title 17 - CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Section 17:13-73.1 - Purposes of corporate central credit union; application of Credit Union Act of 1984
17:13-73.1. Purposes of corporate central credit union; application of Credit Union Act of 1984
The corporate central credit union shall subject to all parts of "The Credit Union Act of 1984," P.L.1984, c. 171, sections 2 to 46 (C. 17:30-80 to C. 17:13-124) not inconsistent with these amendatory and supplementary sections.
A corporate central credit union shall be a nonprofit association, the purpose of which is:
a. To assist in the management of the liquidity of its member credit unions through interlending and investment and related services;
b. To act as an intermediary for the movement of credit union funds between member credit unions and other corporate credit unions;
c. To obtain funds from other credit union organizations, financial intermediaries, and other sources;
d. To foster and promote, in cooperation with other state, regional, and national central credit unions and credit union organizations or associations, the economic security, growth and development of member credit unions; and
e. To perform any other financial services or benefit to its members which are authorized by the commissioner.
L.1984, c. 171, s. 50, eff. Oct. 31, 1984.
Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
