North Carolina Administrative Code
Title 04 - COMMERCE
Chapter 06 - CREDIT UNION DIVISION
Subchapter C - CREDIT UNIONS
Section .1200 - INVESTMENTS
Section 06C .1203 - RESTRICTED TRANSACTIONS
Universal Citation: 04 NC Admin Code 06C .1203
Current through Register Vol. 39, No. 6, September 16, 2024
Transactions such as options to buy or sell securities for merely speculative purposes are unsafe and unsound practices. Credit unions may not enter into standby commitments or cash forward agreements to purchase or sell securities or reverse repurchasing agreements when used in a speculative pyramiding manner with the intent of using the funds received to purchase other securities.
Authority
G.S.
54-109.12;
54-109.82;
54-109.92(a);
Eff. April 1, 1979;
Pursuant to
G.S.
150B-21.3A, rule is necessary without
substantive public interest Eff. September 6,
2016.
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