§ 81-14-319. Limitation on loans to one (1) borrower
The liability to a savings bank by a person, company, corporation or firm for money loaned, including in the liability of such person, company or firm, where a partnership, the liabilities of the several members thereof, shall not exceed twenty percent (20%) of the aggregate unimpaired capital and unimpaired surplus of said savings bank. The […]
§ 81-14-321. General parity provision
State savings banks shall have and possess the rights, powers, privileges, immunities, duties and obligations of thrift institutions organized and operating under the laws of this state or the federal government as may be prescribed by the board by general regulation under the circumstances and conditions set out therein. In the event of a conflict […]
§ 81-14-301. Investment in loans
Subject to the regulations of the commissioner, a savings bank may loan funds as follows: On the security of deposit accounts, but no such loan shall exceed the withdrawal value of the pledged account. On the security of real estate: Of a value, determined in accordance with regulations adopted by the commissioner, sufficient to provide […]
§ 81-14-303. Other investments
If the board of directors determines at any time that funds are available in excess of the demands and needs for loans, maturities and withdrawals, a savings bank may invest funds as provided in this section: In demand, time or savings deposits or accounts, withdrawable accounts, or other insured obligations of any financial institution, the […]
§ 81-14-305. Prohibited security
No savings bank, or subsidiary thereof, may accept its own capital stock or its own mutual capital certificates as security for any loan made by such savings bank. Further, no loans of any type shall be made, either directly or indirectly, for purposes relating to its own stock.
§ 81-14-307. Loan conditioned on certain transactions prohibited
No savings bank, or subsidiary thereof, shall require as a condition of making a loan that the borrower contract with any specific person or organization for particular goods or services. A savings bank, or subsidiary thereof, must notify borrowers at or prior to the loan commitment of their right to select the attorney or law […]
§ 81-14-309. Loan expense and fees
A savings bank may require borrowers to pay all reasonable expenses incurred by the savings bank in connection with making, closing, disbursing, extending, adjusting or renewing loans. A savings bank may require a borrower to pay reasonable charges for late payments made during the course of repayment of a loan. Such payments may be levied […]
§ 81-14-311. Methods of loan repayment
Subject to such rules and regulations as the commissioner may prescribe, a savings bank shall agree in writing with borrowers as to the method or plan by which an indebtedness shall be repaid.
§ 81-14-313. Insider loans
Loans aggregating fifteen percent (15%) of the unimpaired capital and unimpaired surplus may be made by any state savings bank to any director or executive officer thereof, as defined in Regulation O promulgated by the Board of Governors of the Federal Reserve System, less existing direct and indirect liabilities thereto, upon affirmative approval of a […]
§ 81-14-315. Rule-making power of commissioner
The commissioner shall, from time to time, promulgate such rules and regulations in respect to loans permitted to be made by state savings banks as necessary to assure that such loans are keeping with sound lending practices and to promote the purpose of this chapter.