N.Y. Banking Law § 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 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.