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2025 Pennsylvania Consolidated & Unconsolidated Statutes
Title 17 - CREDIT UNIONS
Chapter 5 - Corporate Powers, Duties and Safeguards
Section 511 - Power to borrow
Universal Citation:
17 PA Cons Stat § 511 (2025)
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§ 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 undivided 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; June 18, 2014, P.L.754, No.62, eff. 60 days)
2014 Amendment. Act 62 amended subsec. (a).
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