Mo. Rev. Stat. § 362.185: Financial institutions may invest securities under Federal Housing Act.

It is lawful for banking institutions, trust companies, insurance companies; and loan and investment companies to invest their funds and the moneys in their custody or possession in bonds or notes secured by deeds of trust or mortgages insured by the Federal Housing Administrator, or in debentures and bonds issued by the Federal Housing Administrator pursuant to title II of the National Housing Act, or in debentures and bonds issued by national mortgage associations.