Supervision by director—Certain acts prohibited.

During the period of supervisory direction, the director may prohibit the credit union from engaging in any of the following acts without prior approval:(1) Disposing of, conveying, or encumbering any of its assets;(2) Withdrawing any of its accounts at other financial institutions;(3) Lending any of its funds;(4) Investing any of its funds;(5) Transferring any of its property; or(6) Incurring any debt, obligation, or liability.[ 1997 c 397 s 62.]