47-10-3. Borrowing--Pledging security for borrowings.
61 words·~1 min read·
/sd/title-47/chapter-47-10/47-10-3·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subject to § 47-10-2 , any business development credit corporation shall have the power to borrow money on secured or unsecured notes from any bank, savings and loan association, trust company, or insurance company which is a nonstockholder member of the corporation and from other nonmember persons, firms, or corporations; and to pledge bonds, notes, and other securities as collateral therefor.