§ 54C-143. Commercial lending.

§ 54C‑143.  Commerciallending.

A savings bank may lend andinvest in commercial loans in an aggregate amount that either (i) does notexceed fifteen percent (15%) of its total assets; or (ii) equals a percentageof its total assets greater than fifteen percent (15%), if approved by theCommissioner of Banks upon written request of the savings bank. In consideringa request for an increased limit, the Commissioner of Banks shall take intoconsideration the commercial lending expertise of the management and theoverall risk profile of the savings bank making the request. For the purposesof this section, "commercial loan" means a loan for business,commercial, corporate, or agricultural purposes. (1991, c. 680, s. 1; 1999‑179,s. 3; 2001‑193, s. 16.)