Notwithstanding any other provision of law, any state bank 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 the 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 47 - Bank Powers — Subsidiaries
§ 23-47-501. Loan limits — Maximum generally
§ 23-47-502. Loan limits — Inclusions and exceptions
§ 23-47-503. Loans involving stock of state bank
§ 23-47-504. Loans to affiliates and insiders
§ 23-47-505. Illegal loans — Liability of officer or director
§ 23-47-506. Sale of certain mortgage loans
§ 23-47-507. Power to hold and sell collateral
§ 23-47-508. Disposition of real estate acquired through debt collection