13-03-04-03. Application to board to invest in building - Requirements.

When applying to the state credit union board for permission to invest in a building which exceeds the limit established in section 13-03-04-01, the following procedures will be followed:

1. The secretary of the credit union will certify compliance with the provisions of section 13-03-04-02.

2. The treasurer will certify the amount to be invested. The credit union, by letter, will make a special request of the state credit union board and state the amount, and the percentage of assets and net worth they desire to invest in the lot, building, furniture, fixtures, and equipment.

History: Amended effective June 1, 1984; April 1, 2022.

General Authority: NDCC 6-01-04

Law Implemented: NDCC 6-06-06