Sec. 2. (a) A savings bank may make loans and advances of credit and purchases of obligations representing loans and advances of credit that are eligible for insurance by the federal housing administrator and to obtain such insurance.
(b) An Indiana law:
(1) prescribing the nature, amount, or form of security;
(2) requiring security upon which loans or advances of credit may be made;
(3) prescribing or limiting interest rates upon loans or advances of credit; or
(4) prescribing or limiting the period for which loans or advances of credit may be made;
does not apply to loans, advances of credit, or purchases made under this section.
As added by P.L.42-1993, SEC.72.
Structure Indiana Code
Title 28. Financial Institutions
Chapter 7. Powers of a Savings Bank Subject to the Rules of the Department
28-6.1-7-1. Application of Rules
28-6.1-7-2. Making Fha Loans, Advances of Credit, and Purchases of Obligations
28-6.1-7-3. Making Fha Loans Secured by Mortgages
28-6.1-7-5. Extending Credit to State Agencies
28-6.1-7-7. Owning and Leasing Property
28-6.1-7-8. Purchasing and Constructing Buildings to Be Leased to Public Authorities
28-6.1-7-12. Purchasing, Holding, and Conveying Real Estate Necessary for Transaction of Business