There is a newer version of the North Carolina General Statutes
2005 North Carolina Code - General Statutes § 54-70. Bonds as investments.
§ 54‑70. Bonds as investments.
The bonds of a land mortgage association shall be a legal investment for savings associations, trust companies, or other financial institutions chartered under the laws of this State and shall also be a legal investment for trustees, executors, administrators, or custodians of public or private funds, or corporations, partnerships or associations. (1925, c. 223, s. 22.)
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