Section 28-6.1-7-2 - Making FHA loans, advances of credit, and purchases of obligations(a) A savings bank may make loans and advances of credit and purchases of obligations representing loans and advances of credit that are eligible for insurance by the federal housing administrator and to obtain such insurance.(b) An Indiana law: (1) prescribing the nature, amount, or form of security;(2) requiring security upon which loans or advances of credit may be made;(3) prescribing or limiting interest rates upon loans or advances of credit; or(4) prescribing or limiting the period for which loans or advances of credit may be made; does not apply to loans, advances of credit, or purchases made under this section.
As added by P.L. 42-1993, SEC.72.