Section 28-6.1-7-3 - Making FHA loans secured by mortgages(a) A savings bank may make loans secured by mortgages on real property or leasehold, as the federal housing administrator insures or makes a commitment to insure, 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 made under this section.
As added by P.L. 42-1993, SEC.72.