An insurer may invest in obligations issued or guaranteed by the following agencies of the United States of America:

(1) Commodity Credit Corporation;

Terms Used In Alabama Code 27-41-12

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • following: means next after. See Alabama Code 1-1-1
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • United States: includes the territories thereof and the District of Columbia. See Alabama Code 1-1-1
(2) Federal intermediate credit banks;
(3) Federal land banks;
(4) Central bank for cooperatives;
(5) Federal home loan banks;
(6) Federal National Mortgage Association;
(7) Federal Home Loan Mortgage Corporation;
(8) Tennessee Valley Authority; and
(9) Any other similar agency of the government of the United States of America having similar financial quality.