State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-44_2

§53‑44.2.  Investments in obligations of agencies supervised by FederalHome Loan Bank Board.

Notwithstanding anyrestrictions or limitations on investments contained in any law of this State,federal home loan banks securities issued by federal home loan banks pursuantto the Federal Home Loan Bank Act of 1932 as amended shall be withoutlimitation, authorized investments of funds of banks, savings banks, trustcompanies, insurance companies, building and loan associations, savings andloan associations, credit unions, fraternal organizations, pension andretirement funds, and of fiduciary funds of executors, administrators,guardians and trustees, unless such trust and fiduciary funds are required tobe otherwise invested by will, deed, order or decree of court, gift, grant orother instrument creating or fixing the trust. This section shall be cumulativeto all other laws relating to investments of such funds. (1959,c. 1069, s. 2.)