§ 26-231. Purchase of federal securities.

Current through October 23, 2012

The board of directors of any building association incorporated or unincorporated, organized and existing under the laws of the District of Columbia to do or now doing in the District of Columbia a building association business, in their discretion, may purchase the bonds of the Home Owners' Loan Corporation created pursuant to the authority of the Home Owners' Loan Act of 1933, approved June 13, 1933 (and said association is hereby permitted to carry said bonds as an asset at the par value of said bonds) or may subscribe and pay for shares of any federal corporation created or authorized by law to lend money to building and loan associations.

                
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(Mar. 3, 1901, ch. 854, § 55; Mar. 27, 1934, 48 Stat. 506, ch. 96.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 26-516.

1973 Ed., § 26-415.

References in Text

The Home Owners' Loan Corporation, referred to near the middle of this section, was dissolved by the Act of June 30, 1953, 67 Stat. 126, ch. 170, § 21.

The Home Owners' Loan Act of 1933, approved June 13, 1933, referred to near the middle of this section, is codified in Chapter 12 of Title 12, United States Code, and, as amended, is referred to as the "Home Owners' Loan Act.".