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

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