Rhode Island § 19-5-16 § 19-5-16. Maximum aggregate liability of one person or company.

Rhode Island Statutes

§ 19-5-16 — § 19-5-16. Maximum aggregate liability of one person or company.

Rhode Island § 19-5-16

Title 19Financial institutions

Ch. 19-5Credit Unions

This text of Rhode Island § 19-5-16 (§ 19-5-16. Maximum aggregate liability of one person or company.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 19-5-16 (2026).

Text

§ 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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§ 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.