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Code · North Carolina · Chapter 54B — Savings and Loan Associations

§ 54B-193. Loans on sufficient collateral; other investments.

112 words·~1 min read·/nc/chapter-54b/54b-193

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§ 54B-193. Loans on sufficient collateral; other investments.
(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.)
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