33-2-816. Obligations or stock of certain federal agencies. An insurer may invest in the obligations and/or stock, where stated, of the following agencies of the government of the United States of America, whether or not such obligations are guaranteed by such government:
     (1) commodity credit corporation;
     (2) federal intermediate credit banks;
     (3) federal land banks;
     (4) central bank for cooperatives;
     (5) federal home loan banks and stock thereof;
     (6) federal national mortgage association and stock thereof when acquired in connection with sale of mortgage loans to such association;
     (7) any other similar agency of the government of the United States of America and of similar financial quality.

     History: En. Sec. 109, Ch. 286, L. 1959; R.C.M. 1947, 40-3112.