12 U.S.C. § 1723b

Current through P.L. 118-47 (published on www.congress.gov on 03/23/2024)

Section 1723b - Investment of funds

Moneys of the Association not invested in mortgages or other security holdings or in operating facilities shall be kept in cash on hand or on deposit, or invested in obligations of the United States or guaranteed thereby, or in obligations, participations, or other instruments which are lawful investments for fiduciary, trust, or public funds.

12 U.S.C. § 1723b

June 27, 1934, ch. 847, title III, §310, as added Aug. 2, 1954, ch. 649, title II, §201, 68 Stat. 621; amended Pub. L. 86-372 §305(b), Sept. 23, 1959, 73 Stat. 670; Pub. L. 87-70 §603(e), June 30, 1961, 75 Stat. 177; Pub. L. 88-560 §701(b)(3), Sept. 2, 1964, 78 Stat. 800.

EDITORIAL NOTES

PRIOR PROVISIONSPrior provisions on the subject of this section were formerly contained in section 1718 of this title.

AMENDMENTS1964- Pub. L. 88-560 authorized investment of funds in participations and other instruments which are lawful investments.1961- Pub. L. 87-70 inserted "or other security holdings" after "mortgages". 1959- Pub. L. 86-372 substituted "in obligations of the United States or guaranteed thereby, or in obligations which are lawful investments for fiduciary, trust, or public funds" for "in bonds or other obligations of, or in bonds or other obligations guaranteed as to principal and interest by, the United States".