Section 490.431 – Investment of Funds Not Used in Member Loans; Limitations; Maintenance of Files; Plan for Divestiture of Investment.
490.431 Investment of funds not used in member loans; limitations; maintenance of files; plan for divestiture of investment. Sec. 431. (1) A domestic credit union may invest funds that are not used in loans to members in any of the following: (a) Securities, obligations, or other instruments of or issued by or fully guaranteed as […]
Section 490.432 – Purchase, Sale, or Pledge of Member Obligation.
490.432 Purchase, sale, or pledge of member obligation. Sec. 432. (1) If the purchase meets the conditions of a written policy of the credit union board, a domestic credit union may purchase 1 or more of the following obligations: (a) An obligation of a member that satisfies this act, the bylaws, and the lending policies […]