Maine Revised Statutes Title 24-A Sec. 1108 – Obligations, stock of certain federal and international agencies
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An insurer may invest in the obligations, or stock where stated, issued, assumed or guaranteed by the following agencies of the government of the United States of America, or in which such government is a participant, whether or not such obligations are guaranteed by such government: [PL 1969, c. 132, §1 (NEW).]
1. Farm Loan Bank.
[PL 1969, c. 132, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 24-A Sec. 1108
- 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.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Obligations: includes bonds, debentures, notes or other evidences of indebtedness. See Maine Revised Statutes Title 24-A Sec. 1110
- United States: when used to signify place includes those geographical areas and the lands and waters adjacent to those geographical areas under the jurisdiction of the United States. See Maine Revised Statutes Title 24-A Sec. 1110
2. Commodity Credit Corporation.
[PL 1969, c. 132, §1 (NEW).]
3. Federal Intermediate Credit Banks.
[PL 1969, c. 132, §1 (NEW).]
4. Federal Land Banks.
[PL 1969, c. 132, §1 (NEW).]
5. Central Bank for Cooperatives.
[PL 1969, c. 132, §1 (NEW).]
6. Federal Home Loan Banks, and stock thereof.
[PL 1969, c. 132, §1 (NEW).]
7. Federal National Mortgage Association, and stock thereof when acquired in connection with sale of mortgage loans to such association.
[PL 1969, c. 132, §1 (NEW).]
8. International Bank for Reconstruction and Development.
[PL 1969, c. 132, §1 (NEW).]
9. Inter-American Development Bank.
[PL 1969, c. 132, §1 (NEW).]
10. Asian Development Bank.
[PL 1969, c. 132, §1 (NEW).]
10-A. African Development Bank; and
[PL 1987, c. 405, §36 (NEW).]
11. Any other similar agency of, or participated in by, the government of the United States of America and of similar financial quality.
[PL 1969, c. 132, §1 (NEW).]
SECTION HISTORY
PL 1969, c. 132, §1 (NEW). PL 1987, c. 405, §36 (AMD).