AN ACT FURTHER REGULATING FIRST MORTGAGES ON REAL ESTATE FOR CREDIT UNIONS.
Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
Section 65 of chapter 171 of the General Laws, inserted by section 1 of
chapter 79 of the acts of 1990, is hereby amended by striking out the
fourth paragraph and inserting in place thereof the following paragraph:-
Except as may be otherwise specified in this section, a credit union
having assets of four million dollars or more, may loan, upon any one
parcel of real estate, an amount not exceeding two hundred thousand dollars
and the total liability of any one member as borrower upon loans so secured
shall not exceed three hundred and twenty-five thousand dollars.