SEC. 81-14-317. Nonconforming loans and investments.

Unless otherwise provided, every loan or other investment made in violation of this chapter shall be due and payable according to its terms and the obligation thereof shall not be impaired; provided, however, that such violation consists only of the lending of an excessive sum on authorized security or of investing in an unauthorized investment.

SOURCES: Laws, 1992, ch. 489, Sec. 81, eff from and after passage (approved May 8, 1992).

1997 Amendment

Reenacted.

SOURCE: 1997 Laws, Chapter 364, Sec. 83, HB389, Effective July 1, 1997.