362.197. Capital contributions and investments in obligations of Federal National Mortgage Association. - Missouri Statutes

Capital contributions and investments in obligations of FederalNational Mortgage Association.

362.197. Every bank and every trust company organized underthe laws of this state shall have the power to, and may makepayments to Federal National Mortgage Association of suchnonrefundable capital contributions as are required to be made byit under the National Housing Act as amended by the Housing Actof 1954 (12 U.S.C.A. Sec. 1701 et seq.) in order for theparticular bank or trust company to obtain the benefits of suchact, and may receive stock of the Federal National MortgageAssociation evidencing such capital contributions and may holdand dispose of such stock, and invest in the obligations ofFederal National Mortgage Association in any amount withoutregard to the restrictions and limitations contained in section362.170.

(L. 1955 p. 254 § 1, A.L. 1971 S.B. 163)