Notes and bonds insured and debentures issued by the federal housing administrator are eligible as collateral to secure the deposit of public or other funds, as deposits with any public official or department, and for investment of capital, surplus, reserve, or other funds where such investment is limited to designated securities.
N.D. Cent. Code § 6-03-49
Federal housing administrator - Insured bonds and notes - Debentures - Security for deposits
Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.