Hawaii Revised Statutes 412:7-202 – Membership in federal home loan bank
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Hawaii Revised Statutes 412:7-202
- Federal: means belonging to, part of, or related to the government of the United States of America. See Hawaii Revised Statutes 412:1-109
- Federal Home Loan Bank: means a federal home loan bank created and organized under the authority of the Federal Home Loan Bank Act. See Hawaii Revised Statutes 412:1-109
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- this State: means the State of Hawaii, its political subdivisions, agencies, and departments. See Hawaii Revised Statutes 412:1-109
Any savings and loan association may become a member of a federal home loan bank organized under authority of the Federal Home Loan Bank Act, or any successor or similar system of federal home loan banks established by Congress, and may purchase and hold the shares of such federal home loan bank. The savings and loan association may have and exercise all powers not in conflict with the laws of this State incident to such membership; provided, however that notwithstanding such membership the savings and loan association and its directors, officers, and shareholders shall continue to be subject to all liabilities and duties imposed upon them by any law of this State.