A credit union which permits withdrawal of funds from an account payable to third parties may offer in connection with such accounts overdraft protection to members in the form, on the terms and in amounts consistent with the credit union's policies. For purposes of financial reporting, funds advanced to or for the benefit of a member in connection with an overdraft condition shall be considered as a loan to the member.

Source Note:The provisions of this §91.710 adopted to be effective August 9, 1999, 24 TexReg 6023.