Indiana Code 28-6.1-7-4. Purchasing, investing in, and disposing of FHA and national mortgage association bonds, notes, and debentures
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Sec. 4. (a) A savings bank may purchase, invest in, and dispose of any of the following:
(2) Debentures issued by the federal housing administrator.
(1) Notes or bonds secured by mortgage or trust deed insured by the federal housing administrator.
Terms Used In Indiana Code 28-6.1-7-4
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(3) Bonds or other securities issued by national mortgage associations.
(b) An Indiana law:
(1) prescribing the nature, amount, or form of security;
(2) requiring security upon which loans or advances of credit may be made;
(3) prescribing or limiting interest rates upon loans or advances of credit; or
(4) prescribing or limiting the period for which loans or advances of credit may be made;
does not apply to purchases, investments, or dispositions made under this section.
As added by P.L.42-1993, SEC.72.