Corporations, Associations, and Partnerships
Cooperative Housing Corporations
§ 7-6.1-13 Loans.
Any financial institution organized, incorporated, chartered, or licensed to
conduct business under the laws of the state of Rhode Island are authorized to
make loans secured by a pledge of a proprietary lease and the appurtenant stock
of a cooperative housing corporation on the same terms and limitations as loans
secured by mortgages of real property.
History of Section.
(P.L. 1986, ch. 256, § 1.)