Individual investment limitation - Total investment limitation.

13-03-03-01. Individual investment limitation - Total investment limitation. No credit union organized and operating under the laws of North Dakota shall invest more than ten percent, in the aggregate, of the total paid in shares and deposits of the credit union in first lien, public utility, industrial, corporation, or association bonds, or notes issued by corporations located in the United States of America, unless an exemption is granted by the state credit union board. In determining whether to grant an exemption, the board shall consider the following: 1. The net worth ratio of the credit union; 2. The capital, asset quality, management, earnings, liquidity, and sensitivity to market risk (CAMELS) rating of the credit union; 3. The experience of the credit union's management; and 4. Other factors deemed pertinent by the board. History: Amended effective December 1, 1978; January 1, 2007; January 1, 2013; April 1, 2022. General Authority: NDCC 6-01-04 Law Implemented: NDCC 6-06-06