9-1106. Insured bonds, notes, or obligations.

9-1106

Chapter 9.--BANKS AND BANKING; TRUST COMPANIES Article 11.--BANKING CODE; POWERS

      9-1106.   Insured bonds, notes, or obligations. Any bank or trust company may invest its funds in bonds or notes secured by mortgages which in turn are insured by the federal housing administrator or the successor of the administrator or upon which there is a commitment so to insure, in debentures issued by such administrator or the successor of the administrator, and in obligations of national mortgage associations.

      History:   L. 1947, ch. 102, § 35; June 30.