N.Y. Comp. Codes R. & Regs. Tit. 3 § 96.4 - Unsecured loans
A credit union may make loans to a member which are not secured by a member's unhypothecated shares or by shares pledged by other members in an amount not exceeding 15 percent of the net worth of the credit union, provided that any credit union may make unsecured loans to a member in an amount of at least $5,000.
Notes
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