N.Y. Comp. Codes R. & Regs. tit. 3 § 78.1
Current through Register Vol. 46, No. 53, December 31, 2024
Sections 235 (8-b) and 380-i of the Banking Law permit savings banks and savings and loan associations, respectively, to operate personal loan departments. Other long-standing provisions of the Banking Law empower savings banks and savings and loan associations to invest in certain secured and unsecured personal loans. The authority to operate a personal loan department pursuant to sections 235(8-b) and 380-i is an additional authority and, except as specifically provided herein, shall not be deemed to limit the investment authority of a savings bank or savings and loan association which is provided under any other provision of the law.
N.Y. Comp. Codes R. & Regs. Tit. 3 § 78.1