48-101-114 - Obligations of corporation are legal investments for members.
48-101-114. Obligations of corporation are legal investments for members.
Notwithstanding the provisions of any other law, general or special, the notes or other interest-bearing obligations of such corporation, issued in accordance with and by virtue of this part and the bylaws of such corporation, shall be legal investments for the banking, insurance, and surety organizations which become members of such corporation, up to but in no event exceeding the loan limits established herein.
[Acts 1959, ch. 170, § 7; T.C.A., §§ 48-1714, 48-3-114.]