Ohio Code 3925.081 – Investing in mortgage related securities
(A) Any securities described in section 77r-1 of the “Secondary Mortgage Market Enhancement Act of 1984,” 98 Stat. 1689, 15 U.S.C.A. 77r-1, shall be subject to all limitations prescribed in section 3925.08 of the Revised Code for investments not guaranteed by the full faith and credit of the United States.
Terms Used In Ohio Code 3925.081
- 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.
- United States: includes all the states. See Ohio Code 1.59
(B) Notwithstanding division (A) of this section, on and after August 8, 1991, a domestic insurance company other than life may invest in any of the following securities, subject to any applicable limitations contained in rules adopted by the superintendent of insurance:
(1) Securities offered and sold pursuant to 15 U.S.C.A. section 77d(5);
(2) Mortgage related securities described in 15 U.S.C.A. section 78c(a)(41);
(3) Securities issued or guaranteed by the federal home loan mortgage corporation or the federal national mortgage association.