Section Text
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.
Editorial Notes
PRIOR PROVISIONS Prior provisions on the subject of this section were formerly contained in section 1718 of this title.AMENDMENTS 1964—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".
Citation
12 U.S.C. § 1723b (2018)