HRS §412:10-402
Rules for loans to credit union members
A credit union can give loans to its members, with or without collateral, as long as the credit union's bylaws allow it. The board of directors must write down the rules for giving loans and lines of credit, including terms and what can be used as security.
borrowers
The statute, as written — Loans to members
A credit union may make unsecured and secured loans to its members for such purposes and upon such conditions as the bylaws may provide. The board of directors shall establish written policies with respect to the granting of loans and the extending of lines of credit, including the terms, conditions and acceptable forms of security.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.