Sec. 8. (a) Subject to subsection (b), a savings bank may purchase for its own account and sell obligations, commonly known as collateralized mortgage obligations, that are eligible for purchase and sale by national banking associations.

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Terms Used In Indiana Code 28-6.1-10-8

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
     (b) A savings bank may purchase for its own account and sell the obligations only to the extent that a national banking association can purchase and sell those obligations.

As added by P.L.42-1993, SEC.72.