INVESTMENTS. 665

ARTICLE 49A.

INVESTMENTS.

1-3. Bonds of Federal Farm Loan Board and other Federal agencies; exchange of
mortgages for; security for public deposits.

An. Code, 1924, sec. 1. 1912. sec. 1. 1917, ch. 6, sec. 1. 1924, ch. 449, sec. 1.
1933 (Special Sess. ), ch. 61, sec. 1.

1. Bonds issued by the Federal Farm Loan Board, or by any Federal
Land Bank or any Joint Stock Land Bank, or the Federal Home Loan
Bank Board, or the Home Owners Loan Corporation, (a corporation
created by an Act of the Congress of the United States, approved June
13, 1933), shall be lawful investments for savings bank deposits, for all
fiduciary and trust funds, for the funds of trust, bonding and insurance
companies, building and loan associations, savings and loan associations,
and for the workmen's compensation fund, or other public monies subject
to investment, in this State.

An. Code, 1924, sec. 2. 1912, sec. 2. 1917, ch. 6, sec. 2. 1924, ch. 449, sec. 2.
1933 (Special Sess. ), ch. 61, sec. 2.

2. Said bonds shall be accepted as security for all public deposits and
shall be legal investments for the sinking fund of the State of Maryland
on the same terms as any bonds for which the faith of the United States
is pledged.

1933 (Special Sess. ), ch. 61, sec. 3.

3. Any such savings bank, fiduciary, trust company, insurance com-
pany, building and loan association or savings and loan association,
whether in liquidation (voluntary or involuntary) or not, that shall hold
any mortgage or other lien on real or leasehold property, may at any time
exchange, prior or subsequent to maturity, such mortgage or other lien
and any rights in respect thereto for any of the bonds mentioned in Sec-
tion 1 of this Article and may hold such bonds or any of them as author-
ized and lawful investments for any and all purposes, notwithstanding
the provisions of any general or special law of this State inconsistent
with the provisions of this section.