(a)Investments. An FCU's investments in CUSOs in existence prior to April 1, 1998, must conform with this part not later than April 1, 2001, unless the Board grants prior approval to continue such investment for a stated period.
(b)Loans. An FCU's loans to CUSOs in existence prior to April 1, 1998, must conform with this part not later than April 1, 2001, unless:
(1) The Board grants prior approval to continue the FCU's loan for a stated period; or
(2) Under the terms of its loan agreement, the FCU cannot require accelerated repayment without breaching the agreement.
Title 12 published on 2013-01-01
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This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.