North Dakota Administrative Code
Title 13 - Department of Financial Institutions
Article 13-03 - Credit Unions
Chapter 13-03-03 - Investment in First Lien, Public Utility, Industrial, Corporation, or Association Bonds, Notes, or Other Evidences of Debt Issued by Corporations Located in the United States of America
Section 13-03-03-02 - Applicability

Section 13-03-03-01 shall not apply to a credit union's direct loans to members. A credit union's participation in a loan originating with another lender shall be considered a loan for purposes of this chapter. Participation loans are subject to the provisions of 13-03-20.

General Authority: NDCC 6-01-04

Law Implemented: NDCC 6-06-06