Solved

Can the Chartered Banks Require Security for Loans Outside Section

Question 50

Multiple Choice

Can the chartered banks require security for loans outside section 427 of the federal Bank Act?


A) Yes they can,namely,guarantees by third party.
B) No,they can only require security for those types of security listed in the Act.
C) Yes,they can,namely,pledge of shares and bonds.
D) Yes,they can,namely,assignment of book debts.
E) Yes,they can,namely,warehouse receipts and order bills of lading.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions