Nebraska § 8-711 Banks, trust companies, insurance companies; loans under National Housing Act; authority to make

Nebraska Statutes

§ 8-711 — Banks, trust companies, insurance companies; loans under National Housing Act; authority to make

Nebraska·Ch. 8 Banks and Banking

Notwithstanding any more general or special law of the State of Nebraska to the contrary, banks, savings banks, trust companies and insurance companies are authorized (1) to make such loans and advances of credit, and purchases of obligations representing loans and advances of credit, as are eligible for insurance by the Federal Housing Administrator, and to obtain such insurance; and (2) to make such loans, secured by real property or leasehold, as the Federal Housing Administrator insures or makes a commitment to insure, and to obtain such insurance.

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Notwithstanding any more general or special law of the State of Nebraska to the contrary, banks, savings banks, trust companies and insurance companies are authorized (1) to make such loans and advances of credit, and purchases of obligations representing loans and advances of credit, as are eligible for insurance by the Federal Housing Administrator, and to obtain such insurance; and (2) to make such loans, secured by real property or leasehold, as the Federal Housing Administrator insures or makes a commitment to insure, and to obtain such insurance.

Nebraska § 8-711 (Banks, trust companies, insurance companies; loans under National Housing Act; authority to make) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: Laws 1935, c. 17, § 1, p. 92; Laws 1937, c. 13, § 1, p. 117; C.S.Supp.,1941, § 8-501; R.S.1943, § 8-711. Annotations: Insurance company upon becoming member of Federal Home Loan Bank may make loans insured by Federal Housing Administration. Service Life Ins. Co. v. United States, 189 F.Supp. 282 (D. Neb. 1960).