750 Ind. Admin. Code 3-3-2

Current through October 31, 2024

Section 750 IAC 3-3-2 - Risk assets defined

Authority: IC 28-1-2-7

Affected: IC 28-7-1-9

Sec. 2.

For the purpose of this regulation [ 750 IAC 3-3 ], the term:

(a) Risk Assets shall mean all assets except the following:

(1) Cash on hand.

(2) Deposits and/or shares in Federally or State insured banks, savings and loan associations, and credit unions.

(3) Investments which are direct or indirect obligations of the U.S. Government or its agencies.

(4) Loans to other credit unions.

(5) Student loans insured under the Higher Education Act ( 20 U.S.C. 1071 et. seq.) or similar State insurance programs.

(6) Loans insured under the National Housing Act ( 12 U.S.C. 1703 ) by the Federal Housing Authority.

(7) Common trust investments authorized by the Indiana Credit Union Act [IC 28-7-1-9(c)(3) ].

(8) Prepaid expenses.

(9) Accrued interest on nonrisk investments.

(10) Furniture and equipment.

(11) Land and buildings.

(12) Loans fully secured by a pledge of shares in the lending credit union, equal to and maintained to at least the amount of loan outstanding.

(13) Loans which are purchased from liquidating credit unions and guaranteed by an insuring agency of the Federal government, the State of Indiana or any agency approved by the Department to insure credit union share accounts.

750 IAC 3-3-2

Department of Financial Institutions; Reg No CU-2, Sec 2; filed Jan 29, 1979, 2:54 pm: 2 IR 311; readopted filed Nov 5, 2001, 2:59 p.m.: 25 IR 939; readopted filed Nov 28, 2007, 2:57 p.m.: 20071226-IR-750070649RFA

IAC citation in Indiana Register is incorrectly cited as 750 IAC 3-2-2.