24 Pa. Stat. § 5105.4

Current through Pa Acts 2024-35, 2024-56

Section 5105.4 - Rules and regulations

The rules and regulations of the agency under section 4(6) relating to the making of loans to lending institutions shall require that such loans:

(1) Be evidenced by instruments delivered by each lending institution to the agency constituting such loan indebtedness a general obligation of such lending institution or other form of collateral acceptable to the board of directors; and

(2) Be secured as to payment by a pledge of a lien upon collateral security.

The agency may require that any such security be lodged with a bank or trust company, located within or outside the Commonwealth, designated by the agency as custodian therefor.

24 P.S. § 5105.4

1963, Aug. 7, P.L. 549, § 5.4, added 1982, Dec. 29, P.L. 1450, No. 330, § 5, imd. effective.