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CHAPTER 47-10

BUSINESS DEVELOPMENT CREDIT CORPORATIONS

47-10-1      Purposes of corporations.
47-10-2      Powers of corporations.
47-10-3      Borrowing--Pledging security for borrowings.
47-10-4      Lending--Competition with lending institutions prohibited.
47-10-5      Terms and conditions of loans.
47-10-6      Purchase and sale of property.
47-10-7      Promotion of local development corporations.
47-10-8      Participation in federal programs.
47-10-9      Lending--Duty to give first opportunity to lending institution.
47-10-10      Incorporators.
47-10-11      Directors--Number and term of office.
47-10-12      Capitalization--Minimum capital before commencing business.
47-10-13      Accumulation of surplus--Use of surplus.
47-10-14      Persons authorized to hold common stock.
47-10-15      First annual meeting--Conditions--Subsequent annual meetings.
47-10-16      Classes of members--Stockholder members--Nonstockholder members.
47-10-17      Nonstockholder members--Establishment of line of credit.
47-10-18      Nonstockholder members--Duty to lend.
47-10-19      Nonstockholder members--Right to withdraw--Conditions.
47-10-20      Nonstockholder members--Liability for debts.
47-10-21      Nonstockholder members--Right to share in surplus.
47-10-22      Nonstockholder members--Payment before dissolution of corporation.
47-10-23      Legal investments.
47-10-24      Applicability of other laws.


Back to Title 47