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Excerpt from The Credit Association as an Agency for Rural Short-Time Credit
State, and also to invest in the shares of such unions. The laws of Massachusetts and North Carolina, however, limit such investment. In shares to 20 per cent and 10 per cent, respectively, of the investing association's capital and surplus. The Massachusetts law, in addition, provides that one association may purchase the bonds of other credit associations. The laws of six States - Rhode Island, South Carolina, Wisconsin, Nebraska, Utah, and Texas, do not specifically authorize the use of funds in this manner, but neither is there any provision in these laws which would seem to prohibit such action. Interunion ao commodation of the kinds above mentioned may be made decidedly helpful, since some. Of these organizations are handicapped by their limited funds available for loans, while others, particularly city unions, frequently have a surplus of funds on hand. Even where the privilege clearly exists, however, little use has as yet been made of it, since the officials of unions have apparently preferred to deposit their surplus funds with a local bank or to invest them in Government bonds. This attitude may, in part, be explained by the fact that the different unions or associations have not as yet had time to become acquainted with each other or to establish reputations extending out side of their own localities.
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Paperback. Condition: New. Print on Demand. This book explores the development of rural credit associations in the United States, focusing particularly on the innovative cooperative credit unions that emerged in North Carolina in the early 20th century. The author traces the history of these associations, highlighting their role in providing much-needed financial services to farmers and other rural residents during a time of economic hardship. The book also examines the legal and regulatory framework that shaped the development of credit unions and assesses their impact on the broader agricultural credit landscape. Through detailed analysis of primary sources and case studies, the author provides a nuanced understanding of the challenges and successes of cooperative credit unions and their significance in the history of rural finance in the United States. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781528137645_0
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Condition: New. KlappentextrnrnExcerpt from The Credit Association as an Agency for Rural Short-Time CreditState, and also to invest in the shares of such unions. The laws of Massachusetts and North Carolina, however, limit such investment. In shares to. Seller Inventory # 2149112852
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