04 NCAC 06C .0209 OUT OF STATE OFFICE FACILITIES
Before a credit union may open a branch office in another state, a written request must be submitted to the Administrator of credit unions for his approval insofar as North Carolina law is concerned. (The Administrator may request necessary information and conduct an investigation in evaluating the request.) It shall be the responsibility of the Board of directors of each credit union operating in more than one state to seek the advice of an attorney to see that the Credit Union complies with applicable state laws of the other state(s).
History Note: Authority G.S. 54‑109.21(25);
Eff. April 4, 1978.