A credit union may not contract for any of the services described in this section to be performed for the credit union unless both the credit union and the person performing the services agree to be subject to regulation and examination by the Director of the Department of Consumer and Business Services to the same extent as if the services were performed by the credit union. This section applies to the following services:
(1) Check and deposit sorting and posting.
(2) Computation and posting of interest and other credits and charges.
(3) Any other bookkeeping, accounting or similar functions performed for a credit union. [1987 c.650 §9; 1997 c.832 §9]Section: Previous 723.802 723.806 723.812 723.816 723.818 723.822 723.826 723.830 723.832 723.836 723.840 723.844 723.990 723.992 723.995 Next
Last modified: August 7, 2008