ans secured by the pledge of shares or investment certificates of the lending association may be made to the extent of not more than 90 per cent of the then value of such shares or investment certificates. Any loans which are wholly secured by the pledge of such shares or investment certificates, together with the interest and arrearages due or accrued thereon, may be repaid at any time without the payment of any premium or bonus interest, and upon such payment being made the security pledged therefor shall be surrendered.
SOURCE: GC §41460.