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District of Columbia Code Division V. Local Business Affairs § 26-507.08. Loans to officials.

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A District credit union may make loans to its officers, directors, and members of its committees, provided that the loan complies with all requirements of this subchapter and is not on terms or conditions more favorable than those extended to other borrowers.

(b) A District credit union may permit officers, directors, and members of its committees to act as co-makers, cosigners, or guarantors of loans to other members, subject to the requirements of subsection (a) of this section.

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Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 26-507.08. Loans to officials. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-26-507-08/

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