GENERAL ASSEMBLY OF NORTH CAROLINA

1985 SESSION

 

 

CHAPTER 313

HOUSE BILL 700

 

AN ACT TO ALLOW INVESTMENTS IN OBLIGATIONS ISSUED, ASSUMED OR GUARANTEED BY THE AFRICAN DEVELOPMENT BANK.

 

The General Assembly of North Carolina enacts:

 

Section 1.  G.S. 58-79(a)(5) is amended by rewriting the third sentence to read:

"Interest-bearing bonds, notes or other interest-bearing obligations of any solvent corporation organized under the laws of the United States of America or of the Dominion of Canada, or under the laws of any state, District of Columbia, territory or possession of the United States of America, or obligations issued, assumed or guaranteed by the International Bank for Reconstruction and Development, the Asian Development Bank, the Inter-American Development Bank, and the African Development Bank."

Sec. 2.  G.S. 58-79.1(a)(6) is rewritten to read:

"(6)      Obligations issued, assumed or guaranteed by the International Bank for Reconstruction and Development, the Asian Development Bank, the Inter-American Development Bank, and the African Development Bank."

Sec. 3.  G.S. 147-69.1(c)(2) is rewritten to read:

"(2)      Obligations of the Federal Financing Bank, the Federal Farm Credit Bank, the Bank for Cooperatives, the Federal Intermediate Credit Bank, the Federal Land Banks, the Federal Home Loan Banks, the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, the Government National Mortgage Association, the Federal Housing Administration, the Farmers Home Administration, the United States Postal Service, the Export-Import Bank, the International Bank for Reconstruction and Development, the Inter-American Development Bank, the Asian Development Bank, and the African Development Bank."

Sec. 4.  This act is effective upon ratification.

In the General Assembly read three times and ratified, this the 3rd day of June, 1985.