State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-44_1

§53‑44.1.  Investments in obligations of agencies supervised by FarmCredit Administration.

Notwithstanding anyrestrictions or limitations on investments contained in any law of this State,federal farm loan bonds issued by federal land banks pursuant to the FederalFarm Loan Act as amended, federal intermediate credit bank debentures issued byfederal intermediate credit banks pursuant to the Federal Farm Loan Act asamended, and debentures issued by Central Bank for Cooperatives and regionalbanks for cooperatives pursuant to the Farm Credit Act of 1933 as amended, orby any of such banks, or any notes, bonds, debentures, or similar typeobligations, consolidated or otherwise, issued by any farm credit institutionpursuant to authorities contained in the Farm Credit Act of 1971 (Public Law 92‑181),as amended, shall be, without limitation, authorized investments of funds ofbanks, savings banks, trust companies, insurance companies, building and loanassociations, savings and loan associations, credit unions, fraternalorganizations, pension and retirement funds, and of fiduciary funds ofexecutors, administrators, guardians and trustees, unless such trust andfiduciary funds are required to be otherwise invested by will, deed, order ordecree of court, gift, grant or other instrument creating or fixing the trust.This section shall be cumulative to all other laws relating to investments ofsuch funds. (1957, c. 508; 1973, c. 239, s. 3.)