1161.55 Federal national mortgage association stock.
1161.55 Federal national mortgage association stock.
A savings bank may subscribe to, buy, own, and hold stock of the federal national mortgage association as required by Title 3, section 303, of the “National Housing Act of 1954,” 68 Stat. 590, 12 U.S.C. 1716, as amended. The stock shall be carried on the books of the savings bank at the cost to the savings bank.
Effective Date: 10-23-1991