§ 28-1-25-3 — Rules

To permit and encourage financial institutions
and investment type industrial loan and investment companies of this
state to make loans secured or guaranteed or upon which there is a
commitment or agreement to take over or purchase in whole or part by
the United States or an agency thereof, as described in section 1 of this
chapter, on terms, provisions, and conditions equal to those applicable
from time to time to national banking associations and to federal
savings and loan associations, as the case may be, the department of
financial institutions is hereby authorized and empowered to
supplement sections 1 and 2 of this chapter by making and
promulgating rules with respect to the nature, priority, amount,
location, or form of security for such loans prescribing or limiting the
period for which such loans or advances for credit may be made,
prescribing any ratio between the amount of such loans and the
appraised value of security, and requiring periodical reduction of the
principal of any loan which any such financial institution of this state
may make. Such rules shall not restrict the provisions of sections 1 and
2 of this chapter.
Formerly: Acts 1945, c.47, s.3. As amended by P.L.263-1985,
SEC.106.