Arizona § 6-563 Other loan programs

Arizona Statutes

§ 6-563 — Other loan programs

Arizona § 6-563

Title 6Arizona Revised Statutes

Ch. 4CREDIT UNIONS

Art. 7Loans

This text of Arizona § 6-563 (Other loan programs) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 6-563 (2026).

Text

A.A credit union may participate in loans to its members jointly with other credit unions, credit union organizations or other organizations pursuant to written policies established by the board of directors. A credit union that originates such a loan shall retain an interest of at least five percent of the outstanding principal balance of the loan. Before participating in a loan transaction, each credit union shall perform its own independent evaluation of the creditworthiness of the borrower.

B.In making loans to its members, a credit union may participate in any guaranteed loan program of the federal or state government under the terms and conditions specified in the law or rules under which such a program is provided.

C.A credit union may finance for any person the sale of the cre

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A. A credit union may participate in loans to its members jointly with other credit unions, credit union organizations or other organizations pursuant to written policies established by the board of directors. A credit union that originates such a loan shall retain an interest of at least five percent of the outstanding principal balance of the loan. Before participating in a loan transaction, each credit union shall perform its own independent evaluation of the creditworthiness of the borrower.

B. In making loans to its members, a credit union may participate in any guaranteed loan program of the federal or state government under the terms and conditions specified in the law or rules under which such a program is provided.

C. A credit union may finance for any person the sale of the credit union's property, including property obtained as a result of defaults in obligations owed to it, under the terms, conditions and rates provided by this chapter.