SEC. 81-12-157. Association may not invest in security or grant loan when liquid assets are less than five percent of savings liability.

No association shall invest in any security, other than those that qualify as liquid assets, or in any loan at any time when its liquid assets are less than five percent (5%) of its savings liability unless the commissioner shall after investigation have issued written approval.

SOURCES: Laws, 1977, ch. 445, Sec. 46; reenacted, 1982, ch. 301, Sec. 79; 1990 Ex Sess, ch. 52, Sec. 80; 1993, ch. 441, Sec. 80; 1994, ch. 622, Sec. 112, eff from and after July 1, 1994.

1997 Amendment:

Reenacted

SOURCE: 1997 Laws, Chapter 496, Sec. 77, HB390, Effective July 1, 1997.