Section 58-10-43 - Loans on security of savings accounts

Any association may make loans on the sole security value of the accounts owned or otherwise pledged for or by the borrower. No such loan shall be made when an association has applications for withdrawal filed which have not been reached for payment. History: 1953 Comp., § 48-15-87, enacted by Laws 1967, ch. 61, § 43. ANNOTATIONSAm. Jur. 2d, A.L.R. and C.J.S. references. — 10 Am. Jur. 2d Banks §§ 684, 686. 9 C.J.S. Banks and Banking § 466.