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November 04, 2024 Clouds | 49°F
The 193rd General Court of the Commonwealth of Massachusetts
  1. General Laws
  2. Part I ADMINISTRATION OF THE GOVERNMENT
  3. Title XXII CORPORATIONS
  4. Chapter 157B COOPERATIVE HOUSING CORPORATIONS
  5. Section 13 Loans

Section 13

Section 13: Loans

Section 13. Any financial institution organized under the laws of the commonwealth and supervised either by the commissioner of banks or the commissioner of insurance shall be authorized to make loans secured by a pledge of a proprietary lease and the appurtenant stock of a cooperative corporation upon the same terms and with the same limitations as loans secured by mortgages of real property.