Code of the District of Columbia

§ 26–507.08. Loans to officials.

(a) A District credit union may make loans to its officers, directors, and members of its committees, provided that the loan complies with all requirements of this subchapter and is not on terms or conditions more favorable than those extended to other borrowers.

(b) A District credit union may permit officers, directors, and members of its committees to act as co-makers, cosigners, or guarantors of loans to other members, subject to the requirements of subsection (a) of this section.


(May 6, 2020, D.C. Law 23-86, § 708, 67 DCR 3476.)