1.Limitation. A credit union may borrow moneys from any source; provided that its aggregate borrowing shall not exceed 50% of its paid-in share capital and total surplus. [1975, c. 500, §1(NEW).]
2.Exceeding limitation. Upon making application to and receiving the written approval of the superintendent, a credit union may borrow in excess of the limitation set forth in subsection 1, but not in excess of the amount stated in such approval. [1975, c. 500, §1(NEW).]
1975, c. 500, § 1 (NEW) .