Notwithstanding any other provision of law, any savings and loan association or insurance company organized under the laws of this state which has as one (1) of its principal purposes the making or purchasing of loans secured by real estate mortgages is authorized to:
(1) Sell such mortgage loans to the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Government National Mortgage Association, or any other corporation chartered by an act of Congress for such purposes, or any successor thereof;
(2) In connection therewith, make payments of any capital contributions required pursuant to law in the nature of subscriptions for stock of the entities described in subdivision (1) of this section;
(3) Receive stock evidencing such capital contributions; and
(4) Hold or dispose of such stock.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 2 - Financial Institutions And Securities
Chapter 32 - General Provisions
Subchapter 2 - Powers and Duties of Financial Institutions Generally
§ 23-32-201. Investment in obligations issued pursuant to Farm Credit Act of 1971
§ 23-32-203. Loans secured by liens on agricultural lands
§ 23-32-204. Sale of certain mortgage loans
§ 23-32-205. Loans under Servicemen's Readjustment Act
§ 23-32-206. Casualty insurance — Replacement cost coverage
§ 23-32-207. Deposits and withdrawals — Accounts and certificates of deposit in two or more names
§ 23-32-208. Sharing of customer-bank communication terminals
§ 23-32-209. Misleading actions or use of words by unauthorized persons
§ 23-32-210. Request for stop payment on electronic funds transfer