Opinion No. 49-1203 Ag

Oklahoma Attorney General Reports

Opinion No. 49-1203 Ag

Oklahoma Attorney General Reports·Decided December 3, 1949·Published

Opinion

** CREDIT UNIONS — LOANS SECURED BY REAL ESTATE ** QUESTION: IN VIEW 6 O.S. 395.6 [6-395.6](D) A CREDIT UNION ORGANIZED AND DOING BUSINESS UNDER THE LAWS OF THE STATE OF OKLAHOMA, IS AUTHORIZED TO MAKE LOANS SECURED BY REAL ESTATE MORTGAGES TO PERSONS WHO ARE 'NOT' MEMBERS OF SUCH CREDIT UNION? ANSWER: A CREDIT UNION ORGANIZED AND DOING BUSINESS UNDER THE LAWS OF THE STATE OF OKLAHOMA IS 'NOT' AUTHORIZED TO MAKE LOANS TO ANY PERSON WHO IS NOT A MEMBER OF SUCH CREDIT UNION. (LOANS) CITE: 6 O.S. 395.1 [6-395.1], 6 O.S. 395.2 [6-395.2] (JAMES C. HARKIN)

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** CREDIT UNIONS — LOANS SECURED BY REAL ESTATE ** QUESTION: IN VIEW 6 O.S. 395.6 [6-395.6](D) A CREDIT UNION ORGANIZED AND DOING BUSINESS UNDER THE LAWS OF THE STATE OF OKLAHOMA, IS AUTHORIZED TO MAKE LOANS SECURED BY REAL ESTATE MORTGAGES TO PERSONS WHO ARE 'NOT' MEMBERS OF SUCH CREDIT UNION? ANSWER: A CREDIT UNION ORGANIZED AND DOING BUSINESS UNDER THE LAWS OF THE STATE OF OKLAHOMA IS 'NOT' AUTHORIZED TO MAKE LOANS TO ANY PERSON WHO IS NOT A MEMBER OF SUCH CREDIT UNION. (LOANS) CITE: 6 O.S. 395.1 [6-395.1], 6 O.S. 395.2 [6-395.2] (JAMES C. HARKIN)

Opinion No. 49-1203 Ag, (Okla. Super. Ct. 1949).

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