Title 19 · RI
Title 19Financial Institutions
Citation: R.I. Gen. Laws § 19-5-16
Section: 19-5-16
Title 19Financial Institutions
Chapter 5Credit Unions
R.I. Gen. Laws § 19-5-16
§ 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.
History of Section.P.L. 1995, ch. 82, § 43.