§ 54-109.88. "Risk assets" defined. - North Carolina Statutes

§ 54‑109.88.  "Riskassets" defined.

For the purpose ofestablishing the reserves required by G.S. 54‑109.86, all assets exceptthe following shall be considered risk assets:

(1)        Cash on hand.

(2)        Deposits and sharesin federal or State banks, savings and loan associations, and credit unions.

(3)        Assets which areissued by, fully guaranteed as to principal and interest by, or due from theU.S. government, its agencies, Fannie Mae, or the Government National MortgageAssociation.

(4)        Loans to othercredit unions.

(5)        Loans to studentsinsured under the provision of Title IV, Part B of the Higher Education Act of1965 (20 U.S.C. 1071, et seq.) or similar state insurance programs.

(6)        Loans insured underTitle I of the National Housing Act (12 U.S.C. 1703) by the Federal HousingAdministration.

(7)        Shares or depositsin central credit unions organized under Article 14I of this Chapter of anyother State act or of the Federal Credit Union Act.

(8)        Common trustinvestments which deal in investments authorized by Articles 14A to 14L of thisChapter.

(9)        Prepaid expenses.

(10)      Accrued interest onnonrisk investments.

(11)      Furniture andequipment.

(12)      Land and buildings.

(13)      Loans secured byshares.

(14)      Deposits in mutualsavings guaranty associations which qualify under Article 7A of Chapter 54 ofthe General Statutes.

(15)      Investments in theCollege Foundation. (1975, c. 538, s. 1; 1977, c. 559, s. 8; 2001‑487, s. 14(c).)