WVC 31 - 12 - 3
§31-12-3. Powers of state building and loan associations, etc., in
relation to federal home loan bank.
Any building and loan association or company or savings and
loan association or company or savings bank or any other
association or corporation that may now or hereafter be eligible to
become a member of any federal home loan bank according to the
terms of the Federal Home Loan Bank Act, as the same may be amended
from time to time, is authorized and empowered to subscribe for and
own and hold stock in such federal home loan bank and become a
member thereof, or to borrow money from any federal home loan bank
pursuant to the said act of Congress, as the same may be amended,
and also to invest in the bonds of any federal home loan bank or
the home owners' loan corporation, and also to give and pledge
securities and conform to the provisions of the said Federal Home
Loan Bank Act and to the rules and regulations from time to time
fixed and prescribed either by the federal home loan bank board or
the federal home loan bank, and to perform any acts and execute any
instruments authorized or required by the said act of Congress, as
amended from time to time, or by said rules and regulations.
Note: WV Code updated with legislation passed through the 2016 Regular Session
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