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SB 432, 54th Regular Session
Relating to providing for the creation of corporations with power to lend money at legal rates of interest without banking or discounting privileges, on installment contracts for the purchase of automobiles, appliances, furniture, and other personal property, and realty, and to accept liens against such properties; to borrow money for the purpose of using the same for operating capital, and pledge as security for such loans liens so received; to sell and transfer such liens or the pledged properties after proper foreclosure or surrender thereof; but without the power of selling bonds, certificates, debentures or other obligations, and without trust powers of any kind or character; providing for supervision and control by the Secretary of State.
Author: Dorsey B. Hardeman
Corporations & Associations
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