Insurance of Credit Union Member Accounts

PURPOSE: This rule acknowledges the statutory requirement for federal deposit insurance on all credit union member accounts. (1) Every credit union shall obtain and maintain deposit insurance from the National Credit Union Share Insurance Fund (NCUSIF). (2) All applications for insurance are to be submitted to the Division of Credit Unions for review and transmittal to the appropriate insurer. AUTHORITY: section 370.100, RSMo 1994.* This rule originally filed as 4 CSR 100-3.005. Original rule filed Aug. 13, 1980, effective Jan. 30, 1981. Emergency amendment filed Feb. 14, 1984, effective Feb. 24, 1984, expired June 23, 1984. Amended: Filed March 12, 1984, effective June 11, 1984. Amended: Filed May 4, 1987, effective July 23, 1987. Amended: Filed Nov. 20, 1997, effective June 30, 1998. Moved to 20 CSR 1100-3.005, effective Aug. 28, 2006. *Original authority 1939, amended 1945, 1945, 1949, 1959, 1967 and 1972.