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2006 Minnesota Statutes
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Chapter 50
Section 50.148
Topics
Recent History
- 1995 50.148 Amended 1995 c 171 s 48
This is an historical version of this statute chapter. Also view the most recent published version.
50.148 AUTHORIZED INVESTMENTS; MANUFACTURED HOME LOANS.
In addition to other investments authorized by law, a savings bank organized and operated
pursuant to this chapter, may make loans upon the security of manufactured homes, and any
equipment installed or to be installed therein, in an amount not exceeding $30,000 repayable in
installments, and the installment payments shall not exceed 15 years and 32 days from the date of
the loan, notwithstanding that such loan is required to be repaid in installments or that the loan is
secured by mortgage, pledge, or other collateral. Section 50.1485, subdivision 2, applies to all
manufactured home loans made pursuant to the authority granted by this section. The authority
granted by this section shall not extend to loans which finance the acquisition of inventory by
a manufactured home dealer. A savings bank may purchase or invest in notes, bonds and retail
installment sales contracts secured by or constituting first liens upon manufactured homes.
History: 1973 c 426 s 2; 1977 c 5 s 2; 1981 c 365 s 9; 1995 c 171 s 48
In addition to other investments authorized by law, a savings bank organized and operated
pursuant to this chapter, may make loans upon the security of manufactured homes, and any
equipment installed or to be installed therein, in an amount not exceeding $30,000 repayable in
installments, and the installment payments shall not exceed 15 years and 32 days from the date of
the loan, notwithstanding that such loan is required to be repaid in installments or that the loan is
secured by mortgage, pledge, or other collateral. Section 50.1485, subdivision 2, applies to all
manufactured home loans made pursuant to the authority granted by this section. The authority
granted by this section shall not extend to loans which finance the acquisition of inventory by
a manufactured home dealer. A savings bank may purchase or invest in notes, bonds and retail
installment sales contracts secured by or constituting first liens upon manufactured homes.
History: 1973 c 426 s 2; 1977 c 5 s 2; 1981 c 365 s 9; 1995 c 171 s 48
Official Publication of the State of Minnesota
Revisor of Statutes