§ 81-14-267. Bonding
A savings bank shall maintain a blanket indemnity bond of at least a minimum amount as prescribed by the commissioner. A savings bank which employs collection agents, who for any reason are not covered by the bond as herein required, shall provide for the bonding of each agent in an amount equal to at least […]
§ 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.
§ 81-14-217. Cumulative penalties
All penalties, fines and remedies provided by this article shall be cumulative.
§ 81-14-219. Emergency limitations
The commissioner, with the approval of the Governor, may impose a limitation upon the amounts withdrawable or payable from deposit accounts of savings banks during any specifically defined period when such limitation is in the public interest and welfare.
§ 81-14-251. Membership of a mutual institution
The membership of a mutual state savings bank shall consist of: Any person who holds deposit accounts in a savings bank; or Any person who borrows funds and becomes obligated on a loan from the savings bank, for such time as the loan remains unpaid, or the borrower remains liable to the savings bank for […]
§ 81-14-253. Directors
The directors of a mutual savings bank shall be elected by the members at an annual meeting, held pursuant to the terms of Section 81-14-261, for such terms as the bylaws of the savings bank may provide. Director’s terms may be specified in the certificate of incorporation. Voting for directors by deposit account holders shall […]
§ 81-14-255. Conduct of directors and officers
Directors and officers possess a fiduciary relationship with the savings bank which they serve, and shall not engage or participate, directly or indirectly, in any business or transaction conducted on behalf of or involving such savings bank, unless: (a) the business or transactions are conducted in good faith and are honest, fair and reasonable to […]
§ 81-14-257. Amendments to charter of incorporation and bylaws
Any amendments to the charter of incorporation or bylaws of a savings bank shall be certified by the appropriate corporation official and submitted to the commissioner for his approval before they may become effective.