State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-60

§53‑60.  Authorized investment in farm loan bonds.

Any bank or insurance companyorganized under the laws of this State, and any person acting as executor,administrator, guardian, or trustee, may invest in federal farm loan bondsissued by any federal farm loan bank or joint‑stock land bank organizedpursuant to an act entitled "An act of Congress to provide capital foragricultural development, to create standard forms of investment based uponfarm mortgages to equalize rates of interest upon farm loans, to  furnish amarket for United States bonds, to create government depositories, andfinancial agents for the United States, and for other purposes," approvedthe seventeenth day of July, 1916, or any notes, bonds, debentures, or similartype obligations, consolidated or otherwise, issued by any farm creditinstitution pursuant to authorities contained in the Farm Credit Act of 1971(Public Law 92‑ 181), as amended. (1921, c. 4, s. 41; C.S., s.220(p); 1973, c. 239, s. 4.)