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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 1880   View pdf image (33K)
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1880 ARTICLE 49A.

ARTICLE 49A.

INVESTMENTS.

1, Federal farm loan and joint stock land
bank bonds.

2. To be accepted as security for public
deposits.

An. Code, sec. 1. 1917, ch. 6, sec. 1. 1924, ch. 449, sec. 1.

1. Federal Farm Loan Bonds issued by Federal Land Banks, and
Joint Stock Land Bank Bonds issued by Joint Stock Land Banks, under an
Act of Congress approved July seventeenth, one thousand nine hundred
and sixteen, entitled " An Act to provide capital for agricultural de-
velopment, to create standard forms of investment based upon farm
mortgage, to equalize rates of interest upon farm loans, to furnish a
market for United States bonds, to create Government depositors and
financial agents for the United States, and for other purposes," and the
subsequent amendments thereto shall be a lawful investment for savings
bank deposits, for all fiduciary and trust funds, for the funds of trust,
bonding and insurance companies, building and loan associations, savings
and loan associations, and for the workmen's compensation fund, or other
public monies subject to investment, in this State.

An. Code, sec. 2. 1917, ch. 6, sec. 2. 1924, ch. 449, sec. 2

2. Said Farm Loan Bonds and Joint Stock Land Bank Bonds shall be
accepted as security for all public deposits on the same terms as any bonds
for which the faith of the United States is pledged.1

1 Sec. 3 of act of 1917, ch. 6, provides for repeal of all acts and parts, of acts incon-
sistent with said act. .

 

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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 1880   View pdf image (33K)
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