Arkansas Statutes
§ 23-47-506 — Sale of certain mortgage loans
Arkansas·Title 23
Notwithstanding any other provision of law, any state bank which has as one (1) of its principal purposes the making or purchasing of loans secured by real estate mortgages is authorized to:
(1)Sell the mortgage loans to the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Government National Mortgage Association, or any other corporation chartered by an act of Congress for such purposes, or any successor thereof;
(2)In connection therewith, make payments of any capital contributions required pursuant to law in the nature of subscriptions for stock of the entities described in subdivision (1) of this section;
(3)Receive stock evidencing such capital contributions; and (4) Hold or dispose of such stock.
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Arkansas § 23-47-506 (Sale of certain mortgage loans) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1997, No. 89, § 1.
Nearby Sections
15
§ 23-1-101
Definitions§ 23-1-103
Compliance with Acts 1935, No. 324, and rules of commission required - Penalties for noncompliance§ 23-1-106
Penalties cumulative - Recovery of penalty not bar to further penalty or criminal prosecution§ 23-1-108
Jurisdiction and venue of actions§ 23-1-110
Actions tried without jury - Exceptions§ 23-1-111
Copies of official papers as evidence§ 23-1-115
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