SECTION .1200 ‑ INVESTMENTS

 

04 NCAC 06C .1201          INVESTMENT ACTIVITIES

The North Carolina Credit Union Law, Article 14‑I, specifies the investments which credit unions are authorized to make, which includes loans to members and the purchase of securities guaranteed by the U.S. government.  Transactions such as agreements or options to buy or sell government securities at a future date, which are merely speculative in nature, are considered unsafe and unsound practices.

 

History Note:        Authority G.S. 54‑109.12; 54‑109.82; 54‑109.92(a);

Eff. April 1, 1979.