17-5325. Bonds and other obligations to be carried at actual cost; exception. - Kansas Statutes

17-5325

Chapter 17.--CORPORATIONS Article 53.--SAVINGS AND LOAN CODE; MANAGEMENT

      17-5325.   Bonds and other obligations to be carried at actual cost; exception. The bonds or other interest-bearing obligations purchased by an association shall not be carried on its books at more than the actual cost thereof: Provided, however, Obligations of, or guaranteed as to principal and interest by, the United States government may be carried on the books at redemption values.

      History:   L. 1943, ch. 133, § 54; July 1.