Section 5: Federal Home Loan Bank; membership; investment in stock
98 words·~1 min read·
/ma/part-i/title-xxii/chapter-167f/5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 5. A bank may become a member of the Federal Home Loan Bank established for the district of New England under the provisions of an act of Congress, approved July twenty-second, nineteen hundred and thirty-two, as amended, and known as the Federal Home Loan Bank Act, or of any successor of said bank; and may terminate such membership at any time. A bank may subscribe to and invest in such amounts of the stock of said home loan bank or of any such successor as may be required by law to qualify such corporation for membership therein.