§ 17-11-105 — Authority to acquire and dispose of bonds, securities and capital stock of corporation

(a) Notwithstanding any rule at common law or any
provision of any general or special law or any provision in
their respective charters, agreements of association, articles
of organization or trust indentures:
(i) Any person, domestic or foreign corporation,
public utility company, insurance company, financial institution
as defined herein, or trust, is hereby authorized to acquire,
purchase, hold, sell, assign, transfer, mortgage, pledge or
otherwise dispose of any bonds, securities, or other evidence of
indebtedness, or the shares of the capital stock of the
corporation, or to make contributions to any corporation
organized hereunder, and while a shareholder to exercise all the
rights, powers, and privileges granted shareholders, including
the right to vote, all without the approval of any regulatory
authority of the state except as otherwise provided in this act;
(ii) All financial institutions as defined herein are
hereby authorized to become members of the corporation and to
make loans to the corporation as provided herein; and
(iii) Each financial institution which becomes a
member of the corporation may acquire, purchase, hold, sell,
assign, transfer, mortgage, pledge or otherwise dispose of any
bonds, securities, or other evidence of indebtedness, or the
shares of the capital stock of the corporation, and make
contributions to the corporation, and as a shareholder exercise
all the rights, powers, and privileges granted stockholders,
including the right to vote, all without the approval of any
regulatory authority of the state.
(b) The amount of capital stock of the corporation which
any member is authorized to acquire pursuant to the authority
granted herein is in addition to the amount of capital stock in
corporations which such member may otherwise be authorized to
acquire.