Oklahoma § 6-2041 - Power to make and purchase obligations representing

§ 6-2041. Power to make and purchase obligations representing

insured loans and credit advances.

Banks, savings banks, trust companies, life insurance companies,

fire insurance companies, mutual casualty insurance companies, and

other insurance companies and investment companies, building and

Oklahoma Statutes - Title 6. Banks and Trust Companies

loan associations, trustees, guardians, executors, administrators,

and other fiduciaries, the State of Oklahoma, and cities, villages,

school districts, and other political subdivisions, and all other

corporations, associations and persons, subject to the laws of this

State,

(a) May make such loans and advances of credit and purchases of

obligations representing loans and advances of credit as are

eligible for insurance by the Federal Housing Administrator, and may

obtain such insurance, and

(b) May make such loans, secured by real property or leasehold,

as the Federal Housing Administrator insures or makes a commitment

to insure, and may obtain such insurance.

Added by Laws 1935, p. 201, § 1. Amended by Laws 1937, p. 317, § 1.