Massachusetts General Laws
Chapter 157b - Cooperative Housing Corporations
Section 13 - Loans

Section 13. Any financial institution organized under the laws of the commonwealth and supervised either by the commissioner of banks or the commissioner of insurance shall be authorized to make loans secured by a pledge of a proprietary lease and the appurtenant stock of a cooperative corporation upon the same terms and with the same limitations as loans secured by mortgages of real property.

Structure Massachusetts General Laws