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The Laws of New York
Consolidated Laws of New York
CHAPTER 2
Banking
ARTICLE 10
Savings and Loan Associations
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SECTION 380-B
Power to purchase mortgages from mortgage holders
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ARTICLE 10
Savings and Loan Associations
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SECTION 380-E
Effect of usury
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SECTION 380-C
Power to participate in certain loans and mortgage investments
Banking (BNK) CHAPTER 2, ARTICLE 10
§ 380-c. Power to participate in certain loans and mortgage
investments. Subject to such regulations and restrictions as may be
prescribed by the superintendent of financial services, a savings and
loan association may participate in making or acquiring (1) loans of a
type that it is authorized to have by paragraph (b) of subdivision two
of section three hundred eighty of this chapter, and (2) mortgage
investments of any type that it is authorized to have, provided that the
participation acquired shall not be subordinate to any other part
interest.