Section 11-105-303 - Corporate powers - interest and charges

In addition to the general corporate powers granted by this code, a state bank has the power, subject to the limitations and restrictions imposed by this code and the rules of the banking board, to lend money either upon the security of real property or personal property, or otherwise; to charge, or to receive in advance, interest therefor; and to contract for a charge for a secured or unsecured installment loan.L. 2003: Entire article added with relocations, p. 1121, § 3, effective July 1.This section is similar to former § 11-7-103 as it existed prior to 2003.