North Carolina Administrative Code
Title 04 - COMMERCE
Chapter 06 - CREDIT UNION DIVISION
Subchapter C - CREDIT UNIONS
Section .0300 - BASIC INTERNAL CONTROLS: ACCOUNTING PROCEDURES AND OPERATION STANDARDS FOR STATE-CHARTERED CREDIT UNIONS
Section 06C .0312 - INSURANCE AND GROUP PURCHASING
Credit unions may purchase, make available, or enter into cooperative marketing arrangements (group purchasing) to facilitate its members' voluntary purchase of insurance and other goods and services that shall be in the interest of improving economic and social conditions of its members. Prior to entering into any agreement for cooperative marketing arrangements to provide goods, services, or insurance to its members, the credit union board of directors shall ensure that the service is researched, is needed and wanted by the members, is communicated in an understandable format,and is monitored and evaluated to ensure that the action will not have an adverse effect on the safety and soundness of the credit union.
Authority
G.S.
54-109.12;
54-109.21;
54-109.75;
54-109.77;
54-109.92(a)(5);
Eff. March 1, 1982;
Readopted Eff. February 1,
2018.
