A savings association may make personal loans, secured or unsecured, evidenced by promissory notes. Each note shall require repayment in full within a period not to exceed 10 years from the date of the note. An association shall not, under this section, lend more than $20,000 to one individual at any one time. The aggregate amount of such loans shall not exceed 10 percent of the assets of the association. [1975 c.582 §103; 1977 c.368 §1; 1979 c.863 §10]
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