17-5572. Finance subsidiary corporation; utilization by certain savings and loan associations; rules and regulations.
17-5572
17-5572. Finance subsidiary corporation; utilization by certain
savings and loan associations; rules and regulations.
Subject to such prohibitions, limitations and conditions as
the commissioner may prescribe by rules and regulations, any state
chartered savings and loan association having its principal office in this
state which is a member of a federal home loan bank, may borrow, give
security and issue notes, bonds, debentures or other obligations or other
securities, including capital stock, directly or indirectly through a
wholly owned finance subsidiary corporation and may invest in, transfer or
make available assets to any such finance subsidiary corporation to the
same 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.