Amends TCA Title 45.
Present law requires banks to sell property, other than real property, acquired in satisfaction of a loan within six months or such additional period as the commissioner of financial institutions allows. This bill extends the period of time within which banks must sell such property to 12 months or such additional period as the commissioner of financial institutions allows.<br />
Present law requires banks to sell property, other than real property, acquired in satisfaction of a loan within six months or such additional period as the commissioner of financial institutions allows. This bill extends the period of time within which banks must sell such property to 12 months or such additional period as the commissioner of financial institutions allows.<br />
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