Waivers.

13-03-20-03. Waivers. A credit union may seek a waiver from any of the limitations in subdivision f of subsection 1 of section 13-03-20-02. A credit union shall submit a written request to the commissioner containing an explanation for the purpose of the waiver. The commissioner may request the credit union provide documentation in support of its request. Upon receipt of the written request and all supporting documentation the request must be brought before the state credit union board for consideration. The board shall consider all relevant information related to the request including the safety and soundness of the credit union. If approved, the waiver application must be forwarded to the national credit union administration for consideration. Approval by the state credit union board is contingent on approval by the national credit union administration. History: Effective January 1, 2019. General Authority: NDCC 6-01-04 Law Implemented: NDCC 6-06-06 4