New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter VI - AUTHORIZED INVESTMENTS
Part 171 - Investment In Stock Of Federal National Mortgage Association By Title Insurance Corporations
Section 171.1 - Authorization of investment
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 171.1
Current through Register Vol. 46, No. 39, September 25, 2024
Any title insurance corporation as defined in section 6403 (b)(5) of the Insurance Law, may invest in and hold the stock of The Federal National Mortgage Association which it has acquired pursuant to the Federal National Mortgage Association Charter Act, in connection with the sale of mortgages by the insurance corporation to the association. No such title insurance corporation shall have more than five percent of its total admitted assets, computed as of the 31st day of December next preceding, invested in the stock of the Federal National Mortgage Association.
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