North Dakota Administrative Code
Title 13 - Department of Financial Institutions
Article 13-03 - Credit Unions
Chapter 13-03-22 - Investment Activities
Section 13-03-22-03 - Prohibited investments

Universal Citation: ND Admin Code ยง 13-03-22-03

Current through Supplement No. 392, April, 2024

A credit union cannot invest in the following types of investments:

1. Any privately issued collateralized mortgage obligation or real estate mortgage investment conduit.

2. Any zero coupon investment with a maturity date that is more than ten years from the settlement date.

3. Any mortgage servicing rights as an investment but may perform mortgage servicing functions as a financial service for a member as long as the mortgage loan is owned by the member.

4. Any stripped mortgage-backed securities, residual interests in collateralized mortgage obligations or real estate mortgage investment conduits, or residual interests in small business-related securities.

5. Any commercial mortgage-related security that is not permitted by chapter 13-03-03.

General Authority: NDCC 6-01-04

Law Implemented: NDCC 6-06-06

Disclaimer: These regulations may not be the most recent version. North Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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