Iowa Code 533.306 – Power to borrow
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Terms Used In Iowa Code 533.306
- Account: means the same as defined in section 554. See Iowa Code 554E.1
- credit union: is a lso a "supervised financial organization" as that term is defined and used in chapter 537, the Iowa consumer credit code. See Iowa Code 533.102
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
A state credit union may borrow from any source in total a sum that shall not exceed fifty percent of the sum of its share and deposit account balances.