§ 54C-135 – Deposits in depository institutions.
54C-135. Deposits in depository institutions. A savings bank may invest in certificates of deposit, time-insured deposits, savings accounts, demand deposits, or withdrawable accounts of any banks, associations, or savings banks as are approved by the board of directors of the savings bank. (1991, c. 680, s. 1.)
§ 54C-122 – Lending procedures.
54C-122. Lending procedures. (a) The board of directors shall establish procedures by which loans are to be considered, approved, and made by the savings bank. (b) All actions on loan applications to the savings bank shall be reported to the board of directors at its next meeting. (c) Subject to any rules as the Commissioner […]
§ 54C-123 – Prohibited security.
54C-123. Prohibited security. No savings bank may accept its own capital stock or its own mutual capital certificates as security for any loan made by the savings bank. (1991, c. 680, s. 1.)
§ 54C-124 – Loans conditioned on certain transactions prohibited.
54C-124. Loans conditioned on certain transactions prohibited. (a) No savings bank or service corporation thereof shall require, as a condition of making a loan, that the borrower contract with any specific person or organization for particular services. (b) A savings bank or service corporation thereof shall notify borrowers before the loan commitment of their right […]
§ 54C-125 – Loan expenses and fees.
54C-125. Loan expenses and fees. (a) Subject to Chapter 24 of the General Statutes, 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. The charges may be collected by the savings bank from the borrower and paid […]
§ 54C-121 – Loans.
54C-121. Loans. (a) A savings bank may loan funds as follows: (1) On the security of deposit accounts, but no loan shall exceed the withdrawal value of the pledged deposit account. (2) On the security of real property: a. Of a value, determined in accordance with this Chapter and any appraisal rules as the Commissioner […]