Massachusetts General Laws ch. 171 sec. 76 – National Credit Union Administration Central Liquidity Facility; membership
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Section 76. A credit union may, with the approval of the commissioner, become a regular member of the National Credit Union Administration Central Liquidity Facility, established by 12 USC 1795b and may invest in the shares of the National Credit Union Administration Central Liquidity Facility; provided, however, that such investment shall not exceed the amount necessary to become a member of such facility.
Terms Used In Massachusetts General Laws ch. 171 sec. 76
- National Credit Union Administration: The federal regulatory agency that charters and supervises federal credit unions. (NCUA also administers the National Credit Union Share Insurance Fund, which insures the deposits of federal credit unions.) Source: OCC
A credit union may become a member of any corporate credit union which has been approved to act as an agent of the National Credit Union Administration Central Liquidity Facility.