Act No. 936 of 1978 on Mortgage Societies.
Lag om hypoteksföreningar.
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LEX-FAOC036896
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The Act regulates the establishment and administration of mortgage societies. A mortgage society is a credit institution referred to in the Act on Credit Institutions (1607/1993). It may be established for public purposes. Its particular purpose shall be to use funds mostly acquired as long-term loans to grant long-term loans mainly against a mortgage or other safeguarding collateral. Mortgage societies shall be entered into the Trade Register. The decision-making power of the members of a mortgage society shall be used by the members present at the meeting of the society.
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