Definitions.

13-03-21-01. Definitions. For purposes of this section: 1. "Eligible obligation" means a loan or group of loans. 2. "Student loan" means a loan granted to finance the borrower's attendance at an institution of higher education or at a vocational school, which is secured by and on which payment of the outstanding principal and interest has been deferred in accordance with the insurance or guarantee of the federal government, of a state government, or any agency of either. 3. "Unimpaired capital and surplus" means the total of a credit union's net worth and member shares. History: Effective January 1, 2007. General Authority: NDCC 6-01-04 Law Implemented: NDCC 6-06-06