Section 174. Restrictions on purchases of, and loans on real estate

1. No
  private banker shall purchase with funds held by him as  private  banker
  any  real  estate  except a plot upon which there is or may be erected a
  building suitable for the convenient transaction of  his  business;  nor
  make a loan of such funds upon the security of real estate, if such real
  estate  is  unimproved, in excess of two-thirds, and if such real estate
  is improved by a building or  buildings  or  is  to  be  improved  by  a
  building  or buildings in the process of construction, the major portion
  of which building or buildings is used, or in the  case  of  a  building
  under   construction   is   to   be  used,  for  residential,  business,
  manufacturing or agricultural purposes, in excess of  three-fourths,  of
  the  appraised  value  of  such  real estate, or in an amount which when
  added to the amount unpaid upon prior mortgages, liens and  encumbrances
  upon  such  real  estate exceeds the foregoing respective proportions of
  such appraised value, or if such real  estate  is  subject  to  a  prior
  mortgage,  lien  or  encumbrance  and  the amount unpaid upon such prior
  mortgage, lien or encumbrance or the aggregate amount  unpaid  upon  all
  prior  mortgages,  liens  and encumbrances exceeds ten per centum of the
  permanent capital of such private banker.
    2. All real estate acquired by a private  banker  in  satisfaction  or
  reduction  of  loans  of funds held by him as a private banker, shall be
  sold within five years from the date  of  its  acquisition,  unless  the
  superintendent  upon application shall extend the time within which such
  sale shall be made.