{"data":{"id":"us-nc/n.c.-gen.-stat.-54-109.88","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 54-109.88","heading":"\"Risk assets\" defined.","body":"For the purpose of establishing the reserves required by G.S. 54-109.86, all assets except the following shall be considered risk assets:\n(1)\tCash on hand.\n(2)\tDeposits and shares in federal or State banks, savings and loan associations, and credit unions.\n(3)\tAssets which are issued by, fully guaranteed as to principal and interest by, or due from the U.S. government, its agencies, Fannie Mae, or the Government National Mortgage Association.\n(4)\tLoans to other credit unions.\n(5)\tLoans to students insured under the provision of Title IV, Part B of the Higher Education Act of 1965 (20 U.S.C. 1071, et seq.) or similar state insurance programs.\n(6)\tLoans insured under Title I of the National Housing Act (12 U.S.C. 1703) by the Federal Housing Administration.\n(7)\tShares or deposits in central credit unions organized under Article 14I of this Chapter of any other State act or of the Federal Credit Union Act.\n(8)\tCommon trust investments which deal in investments authorized by Articles 14A to 14L of this Chapter.\n(9)\tPrepaid expenses.\n(10)\tAccrued interest on nonrisk investments.\n(11)\tFurniture and equipment.\n(12)\tLand and buildings.\n(13)\tLoans secured by shares.\n(14)\tDeposits in mutual savings guaranty associations which qualify under Article 7A of Chapter 54 of the General Statutes.\n(15)\tInvestments in the College Foundation. (1975, c. 538, s. 1; 1977, c. 559, s. 8; 2001-487, s. 14(c).)","path":["Chapter 54. Cooperative Organizations.","SUBCHAPTER III. CREDIT UNIONS.","Article 14J. Reserve Allocations."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_54/GS_54-109.88.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T18:05:32Z","sha256":"5e7a302c756aa69c76875003d3262d7768a62b97b9f3f1e8e6013342ad9d2989","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-54-109.87","next":"us-nc/n.c.-gen.-stat.-54-109.89-through-54-109.91"},"notice":"GroundRules: Original legal text. Not legal advice."}