5188-S2 AMS BROW S1593.1
2SSB 5188 - S AMD 391
By Senator Brown
NOT ADOPTED 03/05/2021
On page 11, line 20, after "(3)" insert "The cooperative shall maintain a reserve fund funded to cover two years of debt service payments on loans that the cooperative extends to borrowers.
Renumber the remaining subsections consecutively and correct any internal references accordingly.
EFFECT: Requires the cooperative to maintain a reserve fund that is funded to cover two years of debt service on all loans made to borrowers.
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