412:9-202 Prohibitions. Except as otherwise expressly authorized by this chapter, a financial services loan company shall not:

(1) Employ its funds, directly or indirectly, in trade or commerce by buying or selling ordinary goods, chattels, wares, and merchandise, or by owning or operating industrial or manufacturing plants of any kind;

(2) Issue commercial letters of credit;

(3) Sell real estate, securities, or insurance; or

(4) Engage in any activity requiring a charter as a trust company under article 8. [L 1993, c 350, pt of 1]


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