Amends GS 54-109.21(22), which is one of the listed powers of credit unions, to add that insurance for a credit union’s directors, officers, agents, employees, and members may be provided through any insurance company or through any subsidiary insurance company owned by the credit union. Makes the same change by enacting new GS 54-109.75(c). Makes a conforming change to GS 54-109.82, which concerns the investment of funds.
Adds credit union to the following statutes: GS 58-7-162(1), which lists allowable or admitted assets owned by an insurer; GS 58-7-172, which concerns cash and deposits of an insurer; and GS 58-7-173(14), which lists permitted insurer investments.
Effective October 1, 2011.