R337-7-1. Authority, Scope, and Purpose

(1) This rule is issued pursuant to Subsection 7-1-301(3). (2) This rule governs the type of securities brokerage service state chartered credit unions may offer. (3) The purpose of this rule is to allow securities activities limited to "discount brokerage" services by state chartered credit unions, similar to the discount brokerage services allowed state chartered banks and industrial loan corporations.