2014 Rhode Island General Laws
Title 19 - Financial institutions
Chapter 19-5 - Credit Unions
Section 19-5-16 - Maximum aggregate liability of one person or company.
§ 19-5-16 Maximum aggregate liability of one person or company. – A credit union shall not permit any person or entity to borrow or guaranty, directly or indirectly, an amount(s), in the aggregate, which exceeds one percent (1%) of its total assets or twenty percent (20%) of the total unimpaired capital, whichever is greater. This limit shall not apply to a loan or loans secured by pledged shares or deposits in the credit union.
History of Section.
(P.L. 1995, ch. 82, § 43.)
Disclaimer: These codes may not be the most recent version. Rhode Island 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.
