Minnesota § 50.155 PURCHASE OF CERTAIN MORTGAGE LOANS

Minnesota Statutes

§ 50.155 — PURCHASE OF CERTAIN MORTGAGE LOANS

Minnesota § 50.155

PartBANKING

Ch. 50SAVINGS BANKS

This text of Minnesota § 50.155 (PURCHASE OF CERTAIN MORTGAGE LOANS) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 50.155 (2026).

Text

Savings banks that are subject to the supervision of the commissioner of commerce are authorized to make or purchase loans secured by real estate mortgage the payment of which is guaranteed in whole or in part by the United States or any instrumentality thereof under the Servicemen's Readjustment Act of 1944 and amendments thereof provided that the unguaranteed portion of such loan does not exceed 70 percent of the appraised value of the security.

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Savings banks that are subject to the supervision of the commissioner of commerce are authorized to make or purchase loans secured by real estate mortgage the payment of which is guaranteed in whole or in part by the United States or any instrumentality thereof under the Servicemen's Readjustment Act of 1944 and amendments thereof provided that the unguaranteed portion of such loan does not exceed 70 percent of the appraised value of the security.