West Virginia Statutes
§ 31C-7-1 — Purpose and conditions of loans
A credit union may loan to members for such purposes and upon such conditions as the bylaws may provide. The board of directors shall establish written policies with respect to the granting of loans and the extending of lines of credit, including the terms, conditions and acceptable forms of security.
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West Virginia § 31C-7-1 (Purpose and conditions of loans) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
1996 Reg. Sess., HB4527
Nearby Sections
15
§ 31C-1-1
Definitions§ 31C-1-3
Powers of commissioner§ 31C-1-4
Suspension; involuntary liquidation§ 31C-1-5
Examinations§ 31C-1-6
Records§ 31C-1-7
Reports§ 31C-1-8
Assessments§ 31C-10-1
Voluntary liquidation§ 31C-10-2
Merger of credit unions§ 31C-10-3
Conversion§ 31C-11-1
Incorporation§ 31C-11-10
Reserves§ 31C-11-11
Annual audit§ 31C-11-12
Securities exemption