Page:United States Statutes at Large Volume 92 Part 3.djvu/1083

 92 STAT. 3 7 1 5

PUBLIC LAW 9 5 - 6 3 0 — N O V. 10, 1978

of, or issued by, or fully guaranteed as to principal and interest by, the Federal National Mortgage Association, the Student L o a n M a r k e t i n g Association or the Government National Mortgage Association, or any other agency of the United States and an association may issue and sell securities which are guaranteed pursuant to section 306(g) of the National 12 USC 1721. Housing Act. " (G) B A N K DEPOSITS.—Investments in the time deposits, certificates, or accounts of any bank the deposits of which are insured by the Federal Deposit Insurance Corporation. " (H) STATE SECUKITIKS.—Investments in general obligations of any State or any political subdivision thereof. "(I)

P U R C H A S E OF INSURED LOANS.—Purchase subject

to

all the provisions of paragraph (1)(B), except the area restriction, loans secured by first liens on improved real estate which are insured under provisions of the National Housing Act, or insured as provided in the Servicemen's Readjustment 12 USC 1701. Act of 1944 or chapter 37 of title 38 of the United States 38 USC 1801. Code. "(J)

HOME

IMPROVEMENT

AND MOBILE

HOME

LOANS.—

Loans made for the repair, equipping, alteration, or improvement of any residential real property, and loans made for the purpose of mobile home financing. "(K)

INSURED LOANS TO FINANCE THE PURCHASE OF FEE

SIMPLE.—Loans as to which the association has the benefit of insurance under section 240 of the National Housing Act, 12 USC 1715Z-5. o r of a commitment or agreement therefor. " (L) LOANS

TO FINANCIAL

INSTITUTIONS, BROKERS, AND

DEALERS.—Loans to financial institutions with respect to which the United States or an agency or instrumentality thereof has any function of examination or supervision, or to any broker or dealer registered w i t h the Securities and Exchange Commission, secured by loans, obligations, or investments in which the association has the statutory authority to invest directly. "(M)

LIQUIDITY INVESTMENTS.—Investments which, at the

time of making, are assets eligible for inclusion toward the satisfaction of any liquidity requirement imposed by the B o a r d pursuant to section 5A of the Federal Home Loan B a n k Act, but only to the extent that the investment is per- 12 USC 1425a. mitted to be so included under regulations of the B o a r d or is otherwise authorized. " (N) INVESTMENT I N THE NATIONAL HOUSING PARTNERSHIP CORPORATION, PARTNERSHIPS, AND JOINT VENTURES.—Invest-

ments in shares of stock issued by a corporation authorized to be created pursuant to title IX'^of the Housing and Urban Development Act of 1968, and investments in any partner- 42 USC 3931. ship, limited partnership or joint venture formed pursuant to 42 USC 3937. section 907(a) or 907(c) of that Act. "(O)

HOUSING

AND

URBAN

DEVELOPMENT

GUARANTEED

INVESTMENTS.—Loans as to which the association has the benefit of any g u a r a n t y under title TV of the Housing and Urban Development Act of 1968 or under part B of the Urban 42 USC 3901. G r o w t h and New Community Development Act of 1970 or 42 USC 4511. under section 802 of the Housing and Community Development Act of 1974 as now or hereafter in effect, or of a com- 42 USC 1440. mitment o r agreement therefor.

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