533.311 Acceptance of deposits and investments while insolvent.
40 words·~1 min read·
/ia/chapter-533-credit-unions/533-311·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When a state credit union is insolvent, the state credit union shall not do either of the following:
1. Accept any deposits or investments in ownership shares.
2. Renew or extend the term of any time deposits or time investments.