Legal investments

Notwithstanding any other statute, the notes or other interest - bearing obligations of any corporation organized under this chapter, issued in accordance with this law and the articles of incorporation and bylaws of the corporation shall be legal investments for the banks, savings and loan associations, trust companies, and insurance companies who become members of the corporation. Source: SL 1957, ch 314, § 9; SDC Supp 1960, § 55.6009.