20 CSR 1100-3.005 - Insurance of Credit Union Member Accounts
PURPOSE: This rule acknowledges the statutory requirement for federal deposit insurance on all credit union member accounts.
(1) Every credit
union shall obtain and maintain deposit insurance from the National Credit
Union Share Insurance Fund (NCUSIF).
(2) All applications for insurance are to be
submitted to the Division of Credit Unions for review and transmittal to the
appropriate insurer.
Notes
*Original authority 1939, amended 1945, 1945, 1949, 1959, 1967 and 1972.
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