54B-193. Loans on sufficient collateral; other investments.
(a) A State association may invest in loans secured by any collateral deemed sufficient by the board of directors to properly secure loans; however, if the collateral consists of stock or equity securities of any kind, the stock or securities must be listed on a national stock exchange or regularly quoted and offered for trade on an over-the-counter market.
(b) Subject to such limitations as the Commissioner of Banks may prescribe by regulation, a State association may invest in any investment deemed appropriate by its board of directors. (1981, c. 282, s. 3; 1981 (Reg. Sess., 1982), c. 1238, s. 19; 2001-193, s. 16.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 54B - Savings and Loan Associations
Article 8 - Other Investments.
§ 54B-180 - Other investments.
§ 54B-181 - Business property of a State association.
§ 54B-182 - United States obligations.
§ 54B-183 - North Carolina obligations.
§ 54B-184 - Federal Home Loan Bank obligations.
§ 54B-185 - Deposits in banks.
§ 54B-186 - Deposits in other associations.
§ 54B-187 - Fannie Mae obligations.
§ 54B-188 - Municipal and county obligations.
§ 54B-189 - Stock in education agency.
§ 54B-190 - Industrial development corporation stock.
§ 54B-191 - Urban renewal investment corporation stock.
§ 54B-192 - Urban renewal projects.
§ 54B-193 - Loans on sufficient collateral; other investments.
§ 54B-194 - Service corporations.
§ 54B-195 - Any loan or investment permitted for federal associations.