Any financial institution organized, incorporated, chartered, or licensed to conduct business under the laws of the state of Rhode Island shall be authorized to make loans secured by a pledge of a proprietary lease and the appurtenant stock of a cooperative housing corporation upon the same terms and with the same limitations as loans secured by mortgages of real property.
History of Section.
P.L. 1986, ch. 256, § 1; P.L. 2018, ch. 346, § 7.