Okla. Stat. tit. 6, § 6-2042
This is the official text of Okla. Stat. tit. 6, § 6-2042, part of Oklahoma’s Stat. tit. 6, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 6,." Browse the sections below, each linked to its official government source.
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Investments by fiduciaries, political subdivisions,
Official statutory text
corporations, etc. - Investment of public funds.
(a) It shall be lawful for banks, savings banks, trust
companies, life insurance companies, fire insurance companies,
mutual casualty insurance companies, and other insurance companies
and investment companies, building and 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, to invest their funds
and the moneys in their custody or possession, eligible for
investment, in notes or bonds secured by mortgage or trust deed
insured by the Federal Housing Administrator and debentures issued
by the Federal Housing Administrator, and in obligations of national
mortgage associations, and
(b) Wherever, by statute of this state, collateral is required
as security for the deposit of public or other funds; or deposits
are required to be made with any public official or department; or
an investment of capital or surplus, or a reserve or other fund, is
required to be maintained, consisting of designated securities,
notes and bonds insured and debentures issued by the Federal Housing
Administrator and obligations of national mortgage associations,
shall be eligible for such purposes.
(a) It shall be lawful for banks, savings banks, trust
companies, life insurance companies, fire insurance companies,
mutual casualty insurance companies, and other insurance companies
and investment companies, building and 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, to invest their funds
and the moneys in their custody or possession, eligible for
investment, in notes or bonds secured by mortgage or trust deed
insured by the Federal Housing Administrator and debentures issued
by the Federal Housing Administrator, and in obligations of national
mortgage associations, and
(b) Wherever, by statute of this state, collateral is required
as security for the deposit of public or other funds; or deposits
are required to be made with any public official or department; or
an investment of capital or surplus, or a reserve or other fund, is
required to be maintained, consisting of designated securities,
notes and bonds insured and debentures issued by the Federal Housing
Administrator and obligations of national mortgage associations,
shall be eligible for such purposes.
Status: in_force · Read it on the official government site
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