§701.26. Credit union service contracts.
12 C.F.R. § 701.26
A Federal credit union may act as a representative of and enter into a contractual agreement with one or more credit unions or other organizations for the purpose of sharing, utilizing, renting, leasing, purchasing, selling, and/or joint ownership of fixed assets or engaging in activities and/or services which relate to the daily operations of credit unions. Agreements must be in writing, and shall advise all parties subject to the agreement that the goods and services provided shall be subject to examination by the NCUA Board to the extent permitted by law.
Notes, amendments, and revision history
Amendments
[47 FR 30462, July 14, 1982, as amended at 63 FR 10756, Mar. 5, 1998]
Authority
Authority: 12 U.S.C. 1752(5), 1755, 1756, 1757, 1758, 1759, 1761, 1761a, 1761b, 1766, 1767, 1782, 1784, 1785, 1786, 1787, 1788, 1789. Section 701.6 is also authorized by 15 U.S.C. 3717. Section 701.31 is also authorized by 15 U.S.C. 1601 et seq.; 42 U.S.C. 1981 and 3601-3610. Section 701.35 is also authorized by 12 U.S.C. 4311-4312. Link to an amendment published at 91 FR 50666, Aug. 6, 2026. Link to an amendment published at 91 FR 50677, Aug. 6, 2026. Link to an amendment published at 91 FR 50680, Aug. 6, 2026.
Amendments
[47 FR 30462, July 14, 1982, as amended at 63 FR 10756, Mar. 5, 1998]