SB 432, 54th R.S.
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
Subjects:
Corporations & Associations
Financial--General
The Legislative Archive System is a work in progress. Complete information is not available for all bills and all sessions. Visit the Legislative Archive System status page for details. Please contact the Legislative Reference Library at 512-463-1252 if you have any questions.
Information on this website is provided as a public service by the Legislative Reference Library. The Legislative Reference Library makes no representation as to its completeness or accuracy and makes no warranty in regard to its use. Users assume all risk of reliance on the information included on this site.