Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 1140 - Division of Finance
Chapter 6 - Interpretive Rulings
Section 20 CSR 1140-6.063 - Investment in Federal Agricultural Mortgage Corporation

Universal Citation: 20 MO Code of State Regs 1140-6.063

Current through Register Vol. 49, No. 6, March 15, 2024

PURPOSE: Congress recently established the Federal Agricultural Mortgage Corporation, "Farmer Mac," to establish a secondary market in farm real estate loans. The comptroller of the currency has authorized national banks to invest in the stock of this agency to the extent necessary to participate in the secondary market. State-chartered banks must have the same authority in order to compete on an equal basis.

(1) State-chartered banks and trust companies may invest in the stock of the Federal Agricultural Mortgage Corporation to the same extent as national banks in this state are permitted to do so by the comptroller of the currency.

*Original authority: 361.105, RSMo 1967; and 362.105 RSMo 1939, amended 1949, 1963, 1965, 1967, 1977, 1983, 1986.

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