(A) The superintendent of financial institutions shall adopt rules prescribing standards for extensions of credit that are either of the following:
(1) Secured by liens on interests in real estate;
(2) Made for the purpose of financing the construction of either a building or improvements to real estate.
(B) In prescribing the standards required by division (A) of this section, the superintendent shall consider all of the following:
(1) The risk the extensions of credit pose to the federal deposit insurance funds;
(2) The need for state banks to operate in a safe and sound manner;
(3) The availability of credit;
(4) Any other factors the superintendent considers appropriate.
(C) In prescribing the standards required by division (A) of this section, the superintendent may differentiate among types of loans on the basis of any of the following:
(1) Statutory requirements;
(2) Risk to the federal deposit insurance funds;
(3) The safety and soundness of state banks.
(D) The superintendent shall not adversely evaluate an investment or a loan made by a state bank, or consider a loan to be nonperforming, solely because the loan is secured by or the investment is in commercial, residential, or industrial property, unless the investment or loan may affect the bank's safety and soundness.
Amended by 132nd General Assembly File No. TBD, HB 49, §130.21, eff. 1/1/2018.
Effective Date: 01-01-1997 .
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.