State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-43_1

§53‑43.1.  Obligations of agencies supervised by Farm CreditAdministration as securities for deposits of public funds.

Notwithstanding anyrestrictions or limitations on securities for deposits of public fundscontained in any law of this State, federal farm loan bonds issued by federalland banks pursuant to the Federal Farm Loan Act as amended, federalintermediate credit bank debentures issued by federal intermediate credit bankspursuant to the Federal Farm Loan Act as amended, and debentures issued byCentral Bank for Cooperatives and regional banks for cooperatives pursuant tothe Farm Credit Act of 1933 as amended, or by any of such  banks, or any notes,bonds, debentures, or similar type obligations, consolidated or otherwise,issued by any farm credit institution pursuant to authorities contained in theFarm Credit Act of 1971 (Public Law 92‑181), as amended, shall be withoutlimitation, authorized securities for all deposits of public funds for theState of North Carolina, of agencies of the State of North Carolina, ofcounties of North Carolina, and of municipalities and other politicalsubdivisions of the State of North Carolina. This section shall be cumulativeto all other laws relating to securities for deposits of such funds. (1957,c. 507; 1973, c. 239, s. 2.)