State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-43_2

§53‑43.2.  Obligations of agencies supervised by Federal Home Loan BankBoard 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 home loan banks securities issuedby federal home loan banks pursuant to the Federal Home Loan Bank Act of 1932as amended shall be without limitation, authorized securities for all depositsof public funds for the State of North Carolina, of agencies of the State ofNorth Carolina, of counties of North Carolina, and of municipalities and otherpolitical subdivisions of the State of North  Carolina. This section shall becumulative to all other laws relating to securities for deposits of such funds.(1959, c. 1069, s. 1.)