§ 108.305. Authorized Investments Pursuant to Section 6702(c) and (d) of the Law.

(a) The securities in which an association may invest under subsection (c) of Section 6702 of the law include the following:

(1) United States government securities (i.e., treasury bills, notes and bonds)

(2) District of Columbia Armory Board bonds

(3) Federal Housing Administration debentures

(4) Government National Mortgage Association:

(A) Participation certificates

(B) Mortgage-backed bonds

(C) Mortgage-backed securities (pass-through)

(5) Farmers Home Administration insured notes

(6) New Communities debentures pursuant to Title IV of HUD Act of 1968 and Title VII of HUD Act of 1970

(7) Public Housing notes and bonds issued under programs administered by HUD

(8) Export-Import Bank of the United States debentures, guaranteed participation certificates and guaranteed certificates of beneficial interest

(9) Merchant Marine bonds issued in accordance with the Merchant Marine Act of 1936, as amended

(b) Authorized investments under subsection (d) of Section 6702 include securities issued or guaranteed by the following agencies or instrumentalities:

(1) Federal Home Loan Mortgage Corporation

(2) Federal Home Loan Banks

(3) Federal Savings and Loan Insurance Corporation

(4) Banks for Cooperatives

(5) Federal Land Banks

(6) Federal Intermediate Credit Banks

(7) Student Loan Market Association

(8) Federal Financing Bank

HISTORY

1. Change without regulatory effect renumbering former Section 231.5 to Section 108.305 (Register 87, No. 14). For prior history, see Register 83, No. 16.

Note

Note: Authority cited: Section 5255, Financial Code. Reference: Section 6702, Financial Code.