§ 6.1-5.2. Conferring on state banks power to make charges comparable to those permitted to national banking a...
In addition to the permissible interest rates and charges specifically granted to banks and to lenders generally by this title, the State Corporation Commission may by order, from time to time, confer upon state banks the power to take, receive, reserve, and charge on any loan or discount made, at a rate of one per centum in excess of the discount rate on ninety-day commercial paper in effect at the Federal Reserve Bank for the fifth Federal Reserve District, it being intended the State Corporation Commission may thereby confer upon state banks the power to make comparable charges permitted under any federal statute or regulation to any national banking association.
(1975, c. 80.)
Sections: Previous 6.1-3 6.1-4 6.1-5 6.1-5.1 6.1-5.2 6.1-5.3 6.1-5.4 6.1-6 6.1-6.1 6.1-7 6.1-8 6.1-9 6.1-10 6.1-11 6.1-11.1 NextLast modified: April 2, 2009