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Indiana Code Title 28. Financial Institutions § 28-7-1-23

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 23.  (a) A credit union may make loans to its members for such purposes and upon such security as the bylaws provide, and as the credit committee or loan officer shall approve.

(b) A member may receive a loan for crops in installments.

(c) A borrower may repay the whole loan or any part of a loan on any day on which the credit union is open.

(d) A credit union may offer payroll deduction for:

(1) the repayment of loans;  and

(2) deposits into the accounts of members.

(e) A credit union may offer direct deposit.

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Cite this article: FindLaw.com - Indiana Code Title 28. Financial Institutions § 28-7-1-23 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-28-financial-institutions/in-code-sect-28-7-1-23/

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