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2015 New York Laws
BNK - Banking
Article 10 - (Banking) SAVINGS AND LOAN ASSOCIATIONS
380-C - Power to participate in certain loans and mortgage investments.

NY Banking L § 380-C (2015) What's This?
 380-c.   Power   to   participate  in  certain  loans  and  mortgage
  investments.  Subject to such regulations and  restrictions  as  may  be
  prescribed  by  the  superintendent of financial services, 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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