17:2-5 - Loans and advances eligible for insurance by federal housing administrator
17:2-5.Ā Loans and advances eligible for insurance by federal housing administrator
Savings banks, banks, banking institutions, trust companies, personal finance companies, mortgage companies, installment lending companies, and otherĀ such financial institutions organized under any general or special law of thisĀ state which are approved by the federal housing administrator as eligible forĀ credit insurance, are authorized to make loans and advances of credit andĀ purchase obligations representing loans and advances of credit as are eligibleĀ for insurance by the federal housing administrator and to obtain suchĀ insurance.
Savings banks, banks, banking institutions, trust companies, personal finance companies, mortgage companies, installment lending companies, and otherĀ such financial institutions organized under any general or special law of thisĀ state which are approved by the federal housing administrator as eligible forĀ credit insurance, are authorized to make loans and advances of credit andĀ purchase obligations representing loans and advances of credit as are eligibleĀ for insurance by the federal housing administrator and to obtain suchĀ insurance.