Session Laws

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

SECTION 1. Subdivision (A) of section 24 of chapter 171 of the General Laws is hereby amended by striking out paragraph 1, as appearing in chapter 302 of the acts of 1980, and inserting in place thereof the following paragraph:-

1. A credit union may make loans to an amount not exceeding seven thousand five hundred dollars and if the assets of such credit union are four million dollars or more, to an amount not exceeding ten thousand dollars, if evidenced by the unendorsed and unsecured note of the borrower.

SECTION 2. The second paragraph of paragraph 3 of said subdivision (A) of said section 24 of said chapter 171, as amended by chapter 408 of the acts of 1981, is hereby further amended by striking out, in line 12, the word "sixteen" and inserting in place thereof the word:- twenty-five.