15-17-06. Property of and evidence of indebtedness issued by institutional holding association exempt from taxation

15-17-06. Property of and evidence of indebtedness issued by institutional holding association exempt from taxation. Any site, dormitory, equipment, or appurtenances acquired, purchased, erected, installed, owned, operated, or maintained by an institutional holding association, its successors or assigns, as provided in this chapter, and all bonds or other evidences of indebtedness issued lawfully by such association, are exempt from taxation.