§ 28-6.1-7-4 — Purchasing, investing in, and disposing of FHA and national mortgage association bonds, notes, and debentures

Indiana § 28-6.1-7-4

• Jurisdiction: Indiana
• Art. 6.1: SAVINGS BANKS
• Ch. 7: Powers of a Savings Bank Subject to the Rules of the

Text

(a) A savings bank may purchase, invest in,
and dispose of any of the following:
(1) Notes or bonds secured by mortgage or trust deed insured by
the federal housing administrator.
(2) Debentures issued by the federal housing administrator.
(3) Bonds or other securities issued by national mortgage
associations.
(b) An Indiana law:
(1) prescribing the nature, amount, or form of security;
(2) requiring security upon which loans or advances of credit may
be made;
(3) prescribing or limiting interest rates upon loans or advances
of credit; or
(4) prescribing or limiting the period for which loans or advances
of credit may be made;
does not apply to purchases, investments, or dispositions made under
this section.

Legislative History

As added by P.L.42-1993, SEC.72.