Pennsylvania Act 1917-29 — LEGAL INVESTMENTS, CREATION

Act text

LEGAL INVESTMENTS, CREATION
                   Act of Apr. 5, 1917, P.L. 47, No. 29               Cl. 07
                                  AN ACT

     Specifying additional securities in which trustees or directors
        of savings banks, savings institutions, and provident
        institutions, chartered under general or special acts of
        Assembly, may invest moneys deposited therein.

        Section 1.  Be it enacted, &c., That from and after the
     passage of this act, trustees or directors of savings banks,
     savings institutions, and provident institutions, chartered
     under general or special acts of Assembly of this Commonwealth,
     may, notwithstanding any provisions of their charter, or of any
     act of Assembly under which they may have been incorporated,
     invest the moneys deposited in said savings banks, savings
     institutions, and provident institutions in debentures, bonds or
     other obligations issued by Federal Land Banks or by Federal
     Intermediate Credit Banks under the authority of the Federal
     Farm Loan Act and its amendments and supplements, or by Banks
     for Cooperatives under authority of the Federal Farm Credit Act
     of 1933 and its amendments and supplements, or by Federal Home
     Loan Banks under authority of the Federal Home Loan Bank Act and
     its amendments and supplements.
        (1 amended June 2, 1959, P.L.451, No.84)