Section 58-10-54 – Who may open a savings account.
Investments in savings accounts may be made only in cash and may be made by any person in his own right or in a trust or other fiduciary capacity and by any partnership, association, corporation [or] federal entities which are authorized to open such savings accounts, subject to any limitation fixed by the board of […]
Section 58-10-39 – Requirements in lending transactions.
In no event shall an association make a loan, purchase or sell a note or lien or enter into any participation transaction authorized in the Savings and Loan Act in violation of any regulation promulgated by the supervisor, and no association shall: A. make a real estate loan [on real estate] on which is located, […]
Section 58-10-55 – Savings contracts.
Each holder of a savings account shall execute a savings contract, the form of which is subject to approval of the supervisor, setting forth any special terms and provisions applicable to the account and the conditions upon which withdrawals may be made not inconsistent with the provisions of the Savings and Loan Act. The savings […]
Section 58-10-40 – Advances to protect security.
Any association may pay taxes, assessments, supplemental abstract or title search charges, insurance premiums and other similar charges for the protection of its interests in properties securing its real estate loans, which advances may be carried on its books as an asset of the association and for which it may charge and collect interest, or […]
Section 58-10-56 – Evidence of account ownership.
As evidence of each savings account, the association shall issue to the holder of the account either an account book or a certificate. History: 1953 Comp., § 48-15-98, enacted by Laws 1967, ch. 61, § 54. ANNOTATIONS Am. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 347 to 350. Certificate […]
Section 58-10-41 – Charges for real estate loans.
Every association may require borrowing members to pay all reasonable expenses incurred in connection with the making, maintenance, closing, disbursing, extending, readjusting or renewing of real estate loans, which charges may be collected by the association from the borrower and retained by it or paid to any persons, including any director, officer or employee of […]
Section 58-10-57 – Transfer of savings accounts.
Savings accounts are transferrable [transferable] only on the books of the association upon presentation of evidence of transfer satisfactory to the association, accompanied by application for transfer by which the transferee agrees to accept the account subject to the terms and conditions of the savings contract, the bylaws of the association and the provisions of […]
Section 58-10-42 – Insured and guaranteed loans.
Any association may make, without regard to any loan limitations or restrictions otherwise imposed by the Savings and Loan Act, any loan, secured or unsecured, which is insured or guaranteed in any manner and in any amount by the United States or any instrumentality thereof. History: 1953 Comp., § 48-15-86, enacted by Laws 1967, ch. […]
Section 58-10-43 – Loans on security of savings accounts.
Any association may make loans on the sole security value of the accounts owned or otherwise pledged for or by the borrower. No such loan shall be made when an association has applications for withdrawal filed which have not been reached for payment. History: 1953 Comp., § 48-15-87, enacted by Laws 1967, ch. 61, § […]
Section 58-10-44 – Property improvement, educational and manufactured home financing loans.
Any association may make or purchase loans without the security of a lien upon real property as follows: A. simple interest, discount or gross charge loans for property alteration, repair, improvement or for the equipping of any residential real property, if: (1) with respect to the same property alteration, repair or improvement, the net proceeds […]