2005 Idaho Code - 68-404 — FEDERAL HOME LOAN BANK SECURITIES MADE LEGAL INVESTMENTS

                                  TITLE  68
                            TRUSTS AND FIDUCIARIES
                                  CHAPTER 4
                              LEGAL INVESTMENTS
    68-404.  FEDERAL HOME LOAN BANK SECURITIES MADE LEGAL INVESTMENTS.
Executors, administrators, guardians, trustees and other fiduciaries of every
kind and nature, land and building corporations, building and loan
associations, savings and loan associations and other savings or investment
institutions, trust companies, banks and insurance companies, incorporated
under the laws of this state, are authorized, in addition to investments now
authorized by laws of this state, to invest in bonds and other obligations of,
or guaranteed as to interest and principal by, the United States, either
directly or through securities of or other interests in any unincorporated
investment company or investment trust registered under the federal investment
company act of 1940, as from time to time amended, provided that the portfolio
of such investment company or investment trust is limited to obligations of
the United States government and its agencies and instrumentalities, the
payment of which is fully guaranteed as to principal and interest by the
United States government, and to repurchase agreements fully collateralized by
any such obligations, provided that such investment company or investment
trust takes delivery of such collateral either directly or through an
authorized custodian; bonds or debentures issued by any federal home loan bank
in accordance with the provisions of the Federal Home Loan Bank Act, and
amendments thereto; consolidated federal home loan bank bonds or debentures
issued by the federal home loan bank board in accordance with the provisions
of the Federal Home Loan Bank Act, and amendments thereto; bonds or debentures
issued by the Federal Savings and Loan Insurance Corporation in accordance
with the provisions of title IV of the National Housing Act, and amendments
thereto; shares or accounts of land and building corporations, savings and
loan associations, building and loan associations, and other savings or
investment institutions, incorporated under the laws of this state, which have
been insured by the Federal Savings and Loan Insurance Corporation; and shares
or accounts of federal savings and loan associations incorporated under the
provisions of Home Owners' Loan Act of 1933, and amendments thereto, doing
business in this state, which have been insured by the Federal Savings and
Loan Insurance Corporation.