524.902 General lending powers of a state bank. 1. A state bank may, subject to any applicable restrictions under other provisions of this chapter, loan money, extend credit and discount or purchase evidences of indebtedness andagreements for the payment of money. 2. Nothing in this chapter is deemed to permit a state bank to purchase a vendee’s interest in a real property sales contract, provided, however, that a state bank may loan or extendcredit on the security of such an interest. [C97, §1844, 1850, 1870; S13, §1850; SS15, §1870; C24, 27, 31, 35, 39, §9162, 9184, 9223; C46, 50, 54, 58, 62, 66, §526.7, 526.29, 528.14; C71, 73, 75, 77, 79, 81, §524.902] 92 Acts, ch 1161, §3Referred to in §524.901 Sat Dec 23 01:18:01 2023 Iowa Code 2024, Section 524.902 (22, 0)
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