(a) A State association may invest in loans secured by any collateral deemed sufficient by the board of directors to properly secure loans; however, if the collateral consists of stock or equity securities of any kind, the stock or securities must be listed on a national stock exchange or regularly quoted and offered for trade on an over-the-counter market.
(b) Subject to such limitations as the Commissioner of Banks may prescribe by regulation, a State association may invest in any investment deemed appropriate by its board of directors. (1981, c. 282, s. 3; 1981 (Reg. Sess., 1982), c. 1238, s. 19; 2001-193, s. 16.)
Sections: Previous 54B-186 54B-187 54B-188 54B-189 54B-190 54B-191 54B-192 54B-193 54B-194 54B-195 54B-197 54B-210 54B-211 54B-216 54B-236 Next
Last modified: March 23, 2014