1. A state bank may, subject to any applicable restrictions under other provisions of this chapter, loan money, extend credit and discount or purchase evidences of indebtedness and agreements for the payment of money.
2. Nothing in this chapter is deemed to permit a state bank to purchase a vendee's interest in a real property sales contract, provided, however, that a state bank may loan or extend credit on the security of such an interest.
[C97, § 1844, 1850, 1870; S13, § 1850; SS15, § 1870; C24, 27, 31, 35, 39, § 9162, 9184, 9223; C46, 50, 54, 58, 62, 66, § 526.7, 526.29, 528.14; C71, 73, 75, 77, 79, 81, § 524.902]
92 Acts, ch 1161, § 3
Referred to in § 524.901
Previous Section 524.901
Next Section 524.903
© 2000 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Wed Aug 16 21:03:56 CDT 2000
URL: /DOCS/IACODE/1999SUPPLEMENT/524/902.html
jhf