17-5572.   Finance subsidiary corporation; utilization by certainsavings and loan associations; rules and regulations.Subject to such prohibitions, limitations and conditions asthe commissioner may prescribe by rules and regulations, any statechartered savings and loan association having its principal office in thisstate which is a member of a federal home loan bank, may borrow, givesecurity and issue notes, bonds, debentures or other obligations or othersecurities, including capital stock, directly or indirectly through awholly owned finance subsidiary corporation and may invest in, transfer ormake available assets to any such finance subsidiary corporation to thesame extent it could if it were operating as a federal savings and loan association.

      History:   L. 1985, ch. 87, § 1; L. 1986, ch. 95, § 1; July 1.