Workplace associated with Revisor of Statutes

Workplace associated with Revisor of Statutes

Resources

  • Re Re Search Minnesota Statutes
  • About Minnesota Statutes
  • 2017 Statutes New, repealed or amended
  • 2017 Dining Dining Table of Chapters
  • 2017 Statutes Topics (Index)

Chapter 50

  • Dining Table of parts
  • Complete Chapter Text
  • Variation List

Area 50.1485

Topics

  • Commerce division
  • Letters of credit
  • Mortgages
  • Automobiles
  • Private home
  • Savings banks

Current History

  • 1996 Subd. 1 Amended 1996 c 414 art 1 s 19
  • 1995 50.1485 brand brand New 1995 c 171 s 49

Subdivision 1. Generally Speaking.

A savings bank may make, purchase, or invest in in addition to other investments authorized by law

(a) loans secured because of the pledge of policies of life insurance policies, the project of which can be correctly acquiesced by the insurer;

(b) customer loans, which might be unsecured or guaranteed by individual or genuine home. Customer loans consist of, but they are not restricted to, closed-end installment loans, solitary re re re payment loans, nonamortizing loans, open-end revolving personal credit line loans, bank card loans and extensions of credit, https://speedyloan.net/payday-loans-ma and overdraft security loans. For the true purpose of this paragraph, “consumer loan” means that loan created by the cost cost cost savings bank by which: (1) the debtor is someone except that a business; (2) your debt is incurred mainly for individual, family members, or home function; and (3) your debt is payable in installments or even a finance cost is created;

(c) secured and short term loans to companies and normal individuals for company or commercial purposes. For the true purpose of this paragraph, “organization” means an organization, federal federal government or subdivision that is governmental or agency, trust, estate, partnership, restricted obligation partnership, restricted liability business, partnership, cooperative, or relationship. “company or commercial purpose” means an intention apart from personal, family members, home, or purpose that is agricultural

Continue Reading