§ 73 — Borrowing on behalf of credit union

Section 73. The board of directors may borrow money for and on behalf of the credit union.The board may, if the credit union has a deposit or share account, borrow money for and on behalf of the credit union from a savings bank, cooperative bank, federal savings and loan association, national bank or trust company, an entity identified by the commissioner or any federally-insured corporate credit union; provided, however, that money borrowed from any such institution shall be in an amount not more than the deposit or share account and shall extend not more than 1 year from the date on which the loan is made.