PART V. 
NONDEPOSITORY FINANCIAL SERVICES LOAN COMPANIES



 



§412:9-500  Prohibitions.  Except as
otherwise expressly authorized by this chapter or other law, a nondepository
financial services loan company shall not solicit, accept, or hold deposits,
investment certificates, thrift certificates, or other accounts or instruments
identical or similar to a deposit account, nor shall it borrow money in the
form of, or issue, promissory notes, debentures, bonds, or other obligations to
the public; provided that a nondepository financial services loan company may
borrow funds from, and issue its notes, debentures, bonds, or other obligations
to financial institutions and other institutional lenders and not more than
twenty-five institution-affiliated parties at any one time. [L 1993, c 350, pt
of §1; am L 1996, c 9, §3]