§ 5004. Investment of deposits in obligations issued by federal banks
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 7 P.S. Banks and Banking
7 P.S. § 5004
§ 5004. Investment of deposits in obligations issued by federal banks
From and after the passage of this act, trustees or directors of savings banks, savings institutions, and provident institutions, chartered under general or special acts of Assembly of this Commonwealth, may, notwithstanding any provisions of their charter, or of any act of Assembly under which they may have been incorporated, invest the moneys deposited in said savings banks, savings institutions, and provident institutions in debentures, bonds or other obligations issued by Federal Land Banks or by Federal Intermediate Credit Banks under the authority of the Federal Farm Loan Act and its amendments and supplements,1 or by Banks for Cooperatives under authority of the Federal Farm Credit Act of 1933 and its amendments and supplements,2 or by Federal Home Loan Banks under authority of the Federal Home Loan Bank Act and its amendments and supplements.3
Credits
1917, April 5, P.L. 47, § 1. Amended 1923, June 28, P.L. 884, No. 336, § 1; 1959, June 2, P.L. 451, § 1.
Footnotes
12 U.S.C.A. § 641 et seq. (repealed).
12 U.S.C.A. § 637 et seq. (repealed).
12 U.S.C.A. § 1421 et seq.
7 P.S. § 5004, PA ST 7 P.S. § 5004
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
| End of Document |