Nebraska Statutes 21-1795. Other loan programs
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(1) A credit union may participate in any guaranteed loan program of the federal or state government under the terms and conditions specified in the law under which such a program is provided.
Terms Used In Nebraska Statutes 21-1795
- Credit union: shall mean a cooperative, not-for-profit corporation organized under the Credit Union Act for purposes of educating and encouraging its members in the concept of thrift, creating a source of credit for provident and productive purposes, and carrying on such collateral activities as are set forth in the act. See Nebraska Statutes 21-1705
- Loan: shall mean any extension of credit pursuant to a contract. See Nebraska Statutes 21-1714
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
(2) A credit union may purchase the conditional sales contracts, notes, and similar instruments of its members.