Current with changes from the 2024 Legislative Session
Section 369.699 - Limits on investment1. A savings bank may not invest more than forty percent of its total assets in commercial loans. A commercial loan is a loan for business, commercial, corporate or agricultural purposes.2. A savings bank shall maintain at least fifteen percent of its assets in assets and investments taken from the following categories:(1) First and second lien residential mortgage loans or foreclosed residential mortgage loans;(2) Home improvement loans;(3) Interim residential construction loans; and(4) Mortgage-backed securities.L. 1997 H.B. 257 § 369.430