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2019 Statute

Prev Article 11. - BANKING CODE; POWERSNext

9-1127e. Same; investments by savings and loan associations and savings banks. (a) No savings and loan association or savings bank may make any investment under this section if the association's aggregate outstanding investment in a service corporation would exceed 3% of the association's assets. Not less than 1/2 of the investment permitted under this section that exceeds 1% of the association's assets shall be used primarily for community, inner city, and community-development purposes.

(b) This section shall be a part of and supplemental to the state banking code.

History: L. 2018, ch. 75, § 2; July 1.

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