Pennsylvania § 511 Power to borrow

Pennsylvania Statutes

§ 511 — Power to borrow

Pennsylvania § 511

Title 17CREDIT UNIONS

Ch. 5CORPORATE POWERS, DUTIES AND SAFEGUARDS

This text of Pennsylvania § 511 (Power to borrow) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

17 Pa. Cons. Stat. § 511 (2026).

Text

(a)General rule.--A credit union may borrow from any source a sum not exceeding 50% of its unimpaired capital, regular reserve, contingency reserves and undivided earnings for the purpose of meeting the demand for loans to members or for the purpose of meeting demands for share withdrawals.

(b)Exception.--A credit union shall not borrow for the purpose of making investments authorized by section 501(b)(7) (relating to powers).

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(a) General rule.--A credit union may borrow from any source a sum not exceeding 50% of its unimpaired capital, regular reserve, contingency reserves and undivided earnings for the purpose of meeting the demand for loans to members or for the purpose of meeting demands for share withdrawals.

(b) Exception.--A credit union shall not borrow for the purpose of making investments authorized by section 501(b)(7) (relating to powers).