LegalFix
Sign In

Section 31-19-20. Investments in mortgages, debentures, and securities insured or issued by Federal Housing Administrator or national mortgage associations.

SC Code § 31-19-20 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Banks, savings banks, trust companies, insurance companies and other financial institutions and executors, administrators, guardians, committees, conservators and other fiduciaries subject to the laws of this State may invest their funds and the moneys in their custody or possession, available for investment, (a) in mortgages insured by the Federal Housing Administrator, including bonds secured by a mortgage so insured, (b) in debentures issued by said administrator and (c) in securities issued by national mortgage associations.

HISTORY: 1962 Code Section 36-602; 1952 Code Section 36-602; 1942 Code Section 7838-2; 1935 (39) 67; 1937 (40) 406.

Previous Section
Section 31-19-10. Financial institutions authorized to make loans eligible for Federal housing insurance.
Next Section
Section 31-19-30. Laws requiring security not applicable to loans or investments made pursuant to Sections 31-19-10 or 31-19-20.