New York Codes, Rules and Regulations
Title 3 - BANKING
Chapter I - GENERAL REGULATIONS OF THE SUPERINTENDENT
Part 96 - Lending Limits For Credit Unions
Section 96.3 - Fully secured loans
Universal Citation: 3 NY Comp Codes Rules and Regs ยง 96.3
Current through Register Vol. 46, No. 12, March 20, 2024
A credit union may make loans to a member which are secured by the borrower's unhypothecated shares or by shares pledged by another member or members subject to the limitations contained in sections 454(6) and 456(2) of the Banking Law.
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