TITLE 26

BANKS AND BANKING

CHAPTER 8

LIMITATIONS ON BORROWING MONEY AND PLEDGING ASSETS

26-805.  Extent assets may be pledged. No bank, banker or bank officer shall, except as otherwise authorized by law, pledge or hypothecate as collateral security for money borrowed, its assets in a ratio exceeding one and one-half (1 1/2) times the amount borrowed (except as otherwise authorized by the director).

History:

[26-805, added 1979, ch. 41, sec. 2, p. 96.]