§ 30-19-1 - Obtaining federal loans. - Rhode Island Statutes

SECTION 30-19-1

   § 30-19-1  Obtaining federal loans. –Every minor of sane mind whether or not under guardianship by reason ofminority who under the provisions of federal law is eligible for housing loansmay with the same force, effect, and validity as if that minor were eighteen(18) years of age with full legal capacity enter into, make, swear to, oraffirm, execute, acknowledge, and deliver any and all mortgages of real andpersonal property, notes, and bonds secured by mortgage and other instrumentsof mortgage and any and all contracts, agreements, notes, bonds, obligations,covenants, warranties, affidavits, and vouchers which may be requisite,necessary, desirable, or incident to obtaining any loan guaranteed in part orin full under the provisions of federal law or to obtaining any loan, guaranty,or other benefit thereunder; and with like force, effect, and validity maycontract for and purchase real and personal property and pay the considerationtherefor in all cases in which part or all of the purchase price consists ofthe proceeds of a loan guaranteed in part or in full under the provisions offederal law.