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Illinois Statutes Chapter 205. Financial Regulation § 305/48. Loan limit

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 48. Loan limit. Within any limitations set forth in a policy adopted by the board of directors, a credit union may place a limit upon the aggregate amount to be loaned to or cosigned for by any one member provided that no loan shall be made to any member in an aggregate amount in excess of 10% of the credit union's unimpaired capital and surplus. Such loan limits shall not be subject to reduction by rules adopted by the Secretary.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 205. Financial Regulation § 305/48. Loan limit - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-205-financial-regulation/il-st-sect-205-305-48/

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