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Statutes > New York Laws > BNK - Banking > Article 10 - (375 - 413) SAVINGS AND LOAN ASSOCIATIONS > 382 - Power to borrow.

STATE STATUTES & CODES

NEW YORK STATUTES AND CODES

382 - Power to borrow.

§ 382. Power to borrow. Subject to such regulations as the banking board may promulgate, a savings and loan association may borrow money and pledge its assets as security for the repayment thereof if it has been authorized so to do by the vote of a majority of its board of directors.

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