There Is a Newer Version of the Pennsylvania Consolidated Statutes
  1. 2025 Penn. Cons. Stat.
  2. 2024 Penn. Cons. Stat.
  3. 2023 Penn. Cons. Stat.
  4. 2012 Penn. Cons. Stat. (here)
  5. View All Versions
View Our Newest Version Here

2012 Pennsylvania Consolidated Statutes
Title 17 - CREDIT UNIONS
Chapter 5 - Corporate Powers, Duties and Safeguards
Section 511 - Power to borrow

     § 511.  Power to borrow.
        (a)  General rule.--A credit union may borrow from any source
     a sum not exceeding 50% of its unimpaired capital, regular
     reserve, contingency reserves and retained earnings for the
     purpose of meeting the demand for loans to members or for the
     purpose of meeting demands for share withdrawals.
        (b)  Exception.--A credit union shall not borrow for the
     purpose of making investments authorized by section 501(b)(7)
     (relating to powers).
     (Dec. 9, 2002, P.L.1572, No.207, eff. 60 days)

        2002 Amendment.  Act 207 amended subsec. (a).

Disclaimer: These codes may not be the most recent version. Pennsylvania 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.