Opinion letter to the Honorable R. B. Mackey

Ronorable R. B. Maokq C~saioner ot P1nance D1v1aion or P~nce Jettereon Building Jefferson City, M1aaour1 Dear ~ . Mao kay: OPINI ON NO . 397 (1962 ) NO . 35 (1963 ) ANSWERED BY LETTER April 12, 1963 F l LED 35 Th1a letter 1a in response to your letter of October 29, 1962, with enclosures, requeat1ng an op1nion concerning bank loan l~ta and collat.ral aecur1t1•a therefor. 1 • In an op1n1on or thi s depal'tlnent to D. B • Harrison dated Janu&rJ 22, 1943, a copy ot which 1s attached he~to, th1a o~f'ice concluded that loans secured by United States oo .. rnment bonda were not ~mpt from the loan limits pre- scribed for banks . 2 . We have reconsidered this question and fin4 no reaeon to differ from the conclusion reached in that opinion. 3. It 1a further our view that, on the aame baa1a, loans eeoured by FHA and GI loans an not exempt from the loan 11m1 ts • 4 . We understand that then 1a leg1alat1on pending befor e the Legislature which may amend the appl1eable atat- ute• respecting thia problem. Youra YU7 truly, '1'HOMlS P. EAOLi!!"R>N Attorney General