§ 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 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.