371.180. Limitation on lending powers. - Missouri Statutes

Limitation on lending powers.

371.180. A development finance corporation organized underthe provisions of this chapter shall not lend money when creditis readily available elsewhere. Before granting a loan, thedirectors of the corporation shall endeavor so far as isreasonably possible to ascertain that the first opportunity togrant the loan has been given to the banks, insurance companiesand to other lending institutions of the state.

(L. 1961 p. 157 § 21)