369.699. Limits on investment.
Limits on investment.
369.699. 1. A savings bank may not invest more than forty percent ofits total assets in commercial loans. A commercial loan is a loan forbusiness, commercial, corporate or agricultural purposes.
2. A savings bank shall maintain at least fifteen percent of itsassets in assets and investments taken from the following categories:
(1) First and second lien residential mortgage loans or foreclosedresidential mortgage loans;
(2) Home improvement loans;
(3) Interim residential construction loans; and
(4) Mortgage-backed securities.
(L. 1997 H.B. 257 § 369.430)