Section 487.14205 – Allowance for Bank Loan and Lease Losses; Charge Off of Debt.
487.14205 Allowance for bank loan and lease losses; charge off of debt. Sec. 4205. Unless a debt constitutes a claim against a solvent estate in probate, if the interest on a debt held by a bank is past due and unpaid for a period of 12 months, the bank shall charge off to its allowance […]
Section 487.14201 – Loans and Credit Extensions; Interest and Charges.
487.14201 Loans and credit extensions; interest and charges. Sec. 4201. (1) A bank may collect interest and charges on loans and extensions of credit as permitted by the laws of this state or of the United States to any person. (2) A bank may charge a discount on obligations purchased by the bank. History: 1999, […]
Section 487.14202 – Total Loans and Credit Extensions; Limitation; Exceptions; Limitations Based Upon Capital and Surplus.
487.14202 Total loans and credit extensions; limitation; exceptions; limitations based upon capital and surplus. Sec. 4202. (1) Except as otherwise provided in this section or by order or declaratory ruling of the commissioner, the total loans and extensions of credit and leases by a bank to a person at no time shall exceed 15% of […]
Section 487.14203 – Financing Real or Personal Property; Use of Proceeds for Purchase, Design, Manufacture, Construction, Repair, Modification, or Improvement; Liability for Defect.
487.14203 Financing real or personal property; use of proceeds for purchase, design, manufacture, construction, repair, modification, or improvement; liability for defect. Sec. 4203. A bank that makes a loan, the proceeds of which are used or may be used by the borrower to finance the purchase, design, manufacture, construction, repair, modification, or improvement of real […]
Section 487.14204 – Insurance; Hazard; Property and Casualty.
487.14204 Insurance; hazard; property and casualty. Sec. 4204. (1) A bank that requires a mortgagor to maintain hazard insurance as a condition of receiving a mortgage loan shall not require the amount of the hazard insurance to be greater than the replacement cost of the mortgaged building or buildings. (2) A bank may require an […]