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

SECTION 19-5-16

   § 19-5-16  Maximum aggregate liability ofone 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, which exceeds onepercent (1%) of its total assets or twenty percent (20%) of the totalunimpaired capital, whichever is greater. This limit shall not apply to a loanor loans secured by pledged shares or deposits in the credit union.