§ 721.2. What is an incidental powers activity?

100 words·~1 min read·/us/cfr/t12/s§ 721.2·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

An incidental powers activity is one that is necessary or requisite to enable you to carry on effectively the business for which you are incorporated. An activity meets the definition of an incidental power activity if the activity:

(a)Is convenient or useful in carrying out the mission or business of credit unions consistent with the Federal Credit Union Act;

(b)Is the functional equivalent or logical outgrowth of activities that are part of the mission or business of credit unions; and

(c)Involves risks similar in nature to those already assumed as part of the business of credit unions.

Connections12 cite this

Cited by 12 sections · top 11

Rules and Regulations
Final rule and interim final rule with comment period
Proposed Rules
Proposed rule, delay effective date of risk-based capital, part 702
Proposed Rules
Proposed rule
Proposed Rules
Proposed rule with request for comments
Rules and Regulations
Final rule
Proposed Rules
Proposed rule
Proposed Rules
Proposed rule
Unknown
Final rule
Rules and Regulations
Proposed rule
Proposed Rules
Proposed rule with request for comments
Notices
Proposed rule

Citation graph

cites case law

§ 721.2

What is an incidental powers activity?

Fed. Reg.×12

Cites 0Cited by 12 across 1 source