California Financial Code

§ 7250

FIN § 7250Div. 2 · Ch. 6 · Art. 2

Statute text

Notwithstanding any other provision of law, an association may invest in the following securities without limit, and in addition may invest not in excess of 5 percent of its assets in other securities that are deemed prudent by the association:

(a)Bonds or other interest bearing notes and obligations of the United States and those for which the faith and credit of the United States are pledged for the payment of principal and interest, or obligations that are fully guaranteed as to principal and interest by, the United States, any state, or any state’s political subdivisions, including its agencies, corporations and instrumentalities.

(b)Stock, bonds or obligations of any federal home loan bank.

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Legislative history

Amended by Stats. 1990, Ch. 1118, Sec. 38.