Rhode Island Statutes
§ 19-5-16 — § 19-5-16. Maximum aggregate liability of one person or company.
§ 19-5-16. Maximum aggregate liability of one person or company.
A credit union shall not permit any person or entity to borrow or guaranty, directly or indirectly, an amount(s), in the aggregate, that exceeds one percent (1%) of its total assets or twenty percent (20%) of the total unimpaired capital, whichever is greater. This limit shall not apply to a loan or loans secured by pledged shares or deposits in the credit union.
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Rhode Island § 19-5-16 (§ 19-5-16. Maximum aggregate liability of one person or company.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
P.L. 1995, ch. 82, § 43.
Nearby Sections
15
§ 19-1-1
§ 19-1-1. Definitions.§ 19-1-2
§ 19-1-2. Repealed.§ 19-1-4
§ 19-1-4. Severability.§ 19-10-2
§ 19-10-2. Notice of liquidation.§ 19-10-6
§ 19-10-6. Severability.§ 19-10.1-2
§ 19-10.1-2. Notice of conversion.