§821. Powers in general In addition to all services to members and to nonmembers as provided in section 817 incidental to the powers granted credit unions elsewhere in this Title, a credit union is empowered to do the acts set forth in this chapter, subject to the conditions and limitations set forth herein. [PL […]
§822. Borrowing 1. Limitation. A credit union may borrow moneys from any source; provided that its aggregate borrowing shall not exceed 50% of its paid-in share capital and total surplus. [PL 1975, c. 500, §1 (NEW).] 2. Exceeding limitation. Upon making application to and receiving the written approval of the superintendent, a credit union […]
§823. Services for members 1. Sale of negotiable checks and money orders. A credit union may engage directly in the business of selling, issuing or registering checks or money orders to its members. [PL 1975, c. 550, §1 (NEW).] 2. Safe deposit boxes. A credit union may own and maintain safe deposit vaults, with […]
§824. Participation in electronic funds transfer system 1. Authorization. A credit union may issue cards or other devices to its members that permit the members to gain access to or participate in an established electronic funds transfer system. [PL 2003, c. 322, §16 (AMD).] 2. Limitations. [PL 2003, c. 322, §16 (RP).] SECTION HISTORY […]
§825. Participation in public lotteries A credit union may participate in public lotteries authorized pursuant to the laws of this State in the manner outlined in guidelines and regulations promulgated pursuant to such laws; provided that the superintendent may promulgate additional rules and regulations governing such participation. [PL 1975, c. 500, §1 (NEW).] SECTION […]
§826. Offices and satellite facilities A credit union may establish, relocate, close and operate a branch or satellite facility in accordance with chapter 33, except that the limitation of section 337, subsection 2 does not apply. The limits of section 863 apply to credit union investment in real estate for office facilities. The establishment, relocation […]
§827. Accounts 1. Receipt of savings. Except as provided in subsection 4, a credit union may receive savings of its members in payment for shares, Christmas clubs, special purpose clubs, tax clubs, deposit accounts and the like. [PL 1997, c. 108, §8 (AMD).] 2. Receipt of payments from government agencies and other credit unions. […]
§828. Powers of federally chartered credit unions Notwithstanding any other provisions of law, a credit union has the power to engage in any activity that a credit union chartered by or otherwise subject to the jurisdiction of the Federal Government may be authorized to engage in by federal legislation or regulations issued pursuant to such […]
