Section 65E. Every credit union, subject to limitations imposed by section 65 to section 65E, inclusive, or other general law, shall have the following powers and whatever further incidental or complementary powers that may fairly be implied from those expressly conferred and such as are reasonably necessary to enable it to exercise fully those powers according to common customs and usages:
(1) to discount, buy, invest in, hold, assign, transfer, sell and negotiate promissory notes, drafts, bills of exchange, mortgages, bonds, debentures, bonds or notes secured by mortgages, installment obligations and other evidences of debt;
(2) to advance money or credits on real estate, on improvements thereto or on personal security, on terms to be agreed upon; and
(3) to buy, sell or make loans as participation loans with any other federally-insured credit union, bank or insurance company and to service any loans sold by it.
Section: Previous 64 65 65A 65B 65C 65C1/2 65D 65E 66 67 67A 68 69 70 71 NextLast modified: September 11, 2015