PURPOSE: This rule limits the amounts that may be invested in fixed assets to a maximum of five percent of total assets unless approval of the director of the Missouri Division of Credit Unions is obtained to exceed that figure. The specified limitation will avoid excessive loss of income through over-investment in nonincome-producing assets.

1. (1) No credit union may invest more than five percent (5%) of total assets in fixed assets (land and buildings) without the prior approval of the director of the Missouri Division of Credit Unions.

AUTHORITY: sections 370.075 and 370.100, RSMo 2000.* This rule originally filed as 4 CSR 100-2.185. Original rule filed Aug. 13, 1980, effective Jan. 30, 1981. Amended: Filed Dec. 15, 2000, effective June 30, 2001. Moved to 20 CSR 1100-2.185, effective Aug. 28, 2006.

*Original authority: 370.075, RSMo 1965, amended 1975, 1982, 1988; 370.100, RSMo 1939, amended 1945, 1945, 1949, 1959, 1967, 1972.