§ 7-105. Insurance of share and deposit accounts

Latest version.

(a) In general. -- The Corporation shall insure and guarantee the share and deposit accounts of each member on the same basis, and to the same extent and amount as provided by the National Credit Union Administration Share Insurance Program.

(b) Reinsurance. -- The Corporation may make contracts for reinsurance.

HISTORY: An. Code 1957, art. 23, § 452, 457; 1980, ch. 33, § 2; 1986, ch. 778; 2002, ch. 540.

                    
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