TITLE 26

BANKS AND BANKING

CHAPTER 7

LIMITATIONS ON LOANS, INVESTMENTS, AND PRACTICES

26-704.  Determination of limits of loans and investments of banks. For the purpose of determining limitations on loans and investments the following items are to be disregarded:

(1)  The sale of excess reserve funds by one (1) bank to another bank;

(2)  The purchase of securities by a bank, under an agreement to resell at the end of a stated period; and

(3)  The purchase of mortgage loans by a bank, under agreement to resell at the end of a stated period.

The director may, upon application by a bank, approve loans and investments in excess of the limitations provided in this chapter.

History:

[(26-704) 26-708, added 1979, ch. 41, sec. 2, p. 90; am. and redesig. 2004, ch. 159, sec. 4, p. 515.]