§ 81-14-353. Liquidity
Savings banks shall maintain cash and readily marketable investments in an amount that may be established in the rules and regulations of the commissioner, but such amount shall not be less than ten percent (10%) of the assets of the savings bank. Upon receipt of a duly certified copy of a resolution by the board […]
§ 81-14-355. Net worth maintenance requirement
Each savings bank shall maintain an adequate net worth appropriate for the conduct of its business and the protection of its savings account holders. The net worth adequacy of a savings bank shall be determined by the commissioner on a regular basis, but not less than one (1) time per year after evaluating the character […]
§ 81-14-357. Deposit accounts
Every savings bank shall be authorized to solicit deposits from any person, natural or corporate, except as restricted or limited by law, or by such regulations as the commissioner may prescribe. Savings banks may receive deposits of funds upon such terms as the contract of deposit shall provide to establish methods of withdrawals.
§ 81-14-359. Joint accounts
Accounts may be in the name of two (2) or more persons, whether minor or adult, in such form that the money in the accounts are payable to either adult, or their survivors, and such money due under such accounts, and all additions thereto, shall be the property of such persons as joint tenants with […]
§ 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.