Membership investment shares of member credit unions shall be established as pledged assets with appropriate explanatory footnotes on the books and records and in the financial statements of the member credit unions. The guaranty credit union may utilize all of the assets of the guaranty credit union and accordingly reduce the membership investment shares of all member credit unions, as required, in the discretion of its board of directors, and utilize such assets in accordance with the powers of the guaranty credit union as set out in these rules.

Source Note:The provisions of this §95.304 adopted to be effective November 11, 1999, 24 TexReg 9830.