Sec. 244.
With the prior approval of the commissioner, a conservator appointed under this part may borrow money necessary or expedient to aid in the operation or reorganization of the domestic credit union and may secure the loans by the pledge of or lien, security interest, or mortgage on the assets of the domestic credit union.
History: 2003, Act 215, Eff. June 1, 2004
Last modified: October 10, 2016