13-03-03-02. Applicability.

Section 13-03-03-01 shall not apply to a credit union's direct loans to members. A credit union's participation in a loan originating with another lender shall be considered a loan for purposes of this chapter. Participation loans are subject to the provisions of chapter 13-03-20.

History: Effective August 1, 1980; amended effective January 1, 2007.

General Authority: NDCC 6-01-04

Law Implemented: NDCC 6-06-06