§ 31.3. Over 75% loans on properties for residential use by five or more families.
The principal of the obligation on loans secured by properties designed primarily for residential use by five or more families or upon the security of real estate on which such a building is to be erected or upon the security of real estate on which a building consisting of dwelling units used to house persons affiliated with a college, university, hospital, or other institution is erected or to be erected may not exceed 90% of the fair market value of such property.
Authority The provisions of this § 31.3 issued under section 144 of the Savings Association Code of 1967 (7 P. S. § 6020-144).
Source The provisions of this § 31.3 adopted May 19, 1972, effective May 20, 1972, 2 Pa.B. 897, amended February 12, 1982, effective February 13, 1982, 12 Pa.B. 644. Immediately preceding text appears at serial page (50773).
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