2004 Minnesota Code
Chapters 46 - 59 Banking
Chapter 50 Savings Banks
Section 50.147 Authorized investments; student loans.
50.147 Authorized investments; student loans.
In addition to other investments authorized by law, a savings bank organized under the laws of this state may make student loans. Such loans may be secured or unsecured, and the lender may require a comaker or guaranty under a governmental student loan guarantee plan, or both. The borrower shall certify to the lender that the proceeds of the loan are to be used by a student solely for the payment of expenses of college, university or vocational education.
HIST: 1969 c 658 s 1
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