State regulations prohibited McDougal from investing more than 6% of his S&L assets in the project, so he put in $600,000 of Madison Guaranty money and had Seth Ward put in the difference, $1.15 million.
State regulations prohibited McDougal from. State regulations were investing more than 6% of his S&L assets in the project. He put in $600,000 of Madison Guaranty money. He had Seth Ward. This Seth Ward was put in the difference. The difference was $1.15 million.