17:2-4 - Bonds of home owners' loan corporation - New Jersey Statutes

17:2-4.  Bonds of home owners' loan corporation
    Any savings bank, banking institution, trust company, insurance company or building and loan association, organized under the laws of this state and mutual savings banks organized under any special charter or special law of this  state, may invest in, hold for investment, and accept in lieu of cash, in  reduction or in payment of indebtedness due any of the aforesaid, or in part  payment or in full payment of the purchase price on the sale or transfer of any  asset of any of the aforesaid, bonds issued or hereafter issued by the home  owners' loan corporation, created under an act of congress entitled  "An act to  provide emergency relief with respect to home mortgage indebtedness, to  refinance home mortgages, to extend relief to the owners of homes occupied by  them and who are unable to amortize their debt elsewhere, to amend the federal  home loan bank act, to increase the market for obligations of the United States  and for other purposes,"  approved June thirteenth, one thousand nine hundred  and thirty-three.