Nebraska Statutes 8-323. Mortgages; assignment to Home Owners’ Loan Corporation authorized; condition
Any building and loan association is hereby authorized, with the approval of its board of directors, to assign its mortgages and the evidence of debt secured thereby to the Home Owners’ Loan Corporation created by act of Congress of the United States under the act cited as the Home Owners’ Loan Act of 1933, or such other corporation as may be created by authority of the United States Government, or as an instrumentality of the United States Government, and to accept as consideration for such assignment, cash or bonds of such Home Owners’ Loan Corporation or such other corporation as may be created by authority of the United States Government, or as an instrumentality of the United States Government; Provided, that no mortgage given by any member of such association shall be so assigned without the written consent of the borrowing member.
Source
- Laws 1933, c. 25, § 1, p. 198;
- Laws 1935, c. 14, § 3, p. 85;
- Laws 1937, c. 14, § 1, p. 120;
- C.S.Supp.,1939, § 8-309;
- Laws 1941, c. 90, § 32, p. 359;
- C.S.Supp.,1941, § 8-309;
- Laws 1943, c. 14, § 1(5), p. 80;
- R.S.1943, § 8-323.
Terms Used In Nebraska Statutes 8-323
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- United States: shall include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801