South Carolina § 31-19-20 Investments in mortgages, debentures, and securities insured or issued by Federal Housing Administrator or national mortgage associations.

South Carolina Statutes

§ 31-19-20 — Investments in mortgages, debentures, and securities insured or issued by Federal Housing Administrator or national mortgage associations.

South Carolina·Title 31 HOUSING AND REDEVELOPMENT·Ch. 19 INVESTMENTS IN HOUSING OBLIGATIONS

Banks, savings banks, trust companies, insurance companies and other financial institutions and executors, administrators, guardians, committees, conservators and other fiduciaries subject to the laws of this State may invest their funds and the moneys in their custody or possession, available for investment, (a) in mortgages insured by the Federal Housing Administrator, including bonds secured by a mortgage so insured, (b) in debentures issued by said administrator and (c) in securities issued by national mortgage associations.

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Banks, savings banks, trust companies, insurance companies and other financial institutions and executors, administrators, guardians, committees, conservators and other fiduciaries subject to the laws of this State may invest their funds and the moneys in their custody or possession, available for investment, (a) in mortgages insured by the Federal Housing Administrator, including bonds secured by a mortgage so insured, (b) in debentures issued by said administrator and (c) in securities issued by national mortgage associations.

South Carolina § 31-19-20 (Investments in mortgages, debentures, and securities insured or issued by Federal Housing Administrator or national mortgage associations.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

HISTORY: 1962 Code SECTION 36-602; 1952 Code SECTION 36-602; 1942 Code SECTION 7838-2; 1935 (39) 67; 1937 (40) 406.

Nearby Sections

5

§ 31-19-10

Financial institutions authorized to make loans eligible for Federal housing insurance.

§ 31-19-20

Investments in mortgages, debentures, and securities insured or issued by Federal Housing Administrator or national mortgage associations.

§ 31-19-30

Laws requiring security not applicable to loans or investments made pursuant to SECTIONSECTION 31-19-10 or 31-19-20.

§ 31-19-40

Investments in bonds of Home Owners' Loan Corporation.

§ 31-19-50

Municipalities authorized to accept bonds in payment of taxes, assessments, and other claims on property.

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