Can the Chartered Banks Require Security for Loans Outside the Types

question 6

Multiple Choice

Can the chartered banks require security for loans outside the types indicated in the federal Bank Act?

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

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