§1759. Loans
58 words·~1 min read·
/me/title-13-corporations/chapter-85-cooperatives/1759·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any lender is authorized to make loans secured by shares in a cooperative affordable housing corporation, including limited equity cooperatives. For purposes of Title 9‑A, section 1‑202, subsection (8), a loan secured by shares of a cooperative affordable housing corporation must be considered a loan secured by a mortgage on real estate. [PL 1993, c. 300, §1 (NEW).]