369.249. Director may regulate lending practices.
Director may regulate lending practices.
369.249. The director of the division of finance may fromtime to time establish such rules and regulations in respect toloans as may be reasonably necessary to assure that such loansare in keeping with sound lending practices and promote thepurposes of sections 369.010 to 369.369, and the director mayinclude therein provisions concerning appraisals, payments andterms of security instruments. Any note or security instrumentmay provide for advances for taxes, insurance premiums and othercharges, which may be commingled with other funds of theassociation, and the extent, if any, to which interest is to bepaid thereon.
(L. 1971 S.B. 3 § 49, A.L. 1994 H.B. 1165)Effective 7-6-94