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2010 New York Code
BNK - Banking
Article 10 - (375 - 413) SAVINGS AND LOAN ASSOCIATIONS
380-C - Power to participate in certain loans and mortgage investments.

§ 380-c.   Power   to   participate  in  certain  loans  and  mortgage
  investments. Subject to such regulations  and  restrictions  as  may  be
  prescribed  by  the  banking  board,  a savings and loan association may
  participate in making or acquiring (1)  loans  of  a  type  that  it  is
  authorized  to have by paragraph (b) of subdivision two of section three
  hundred eighty of this chapter, and (2) mortgage investments of any type
  that it is authorized to have, provided that the participation  acquired
  shall not be subordinate to any other part interest.

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