N.D. Cent. Code § 6-03-48: Investment in notes or bonds secured by insured mortgage - Debentures of federal housing administrator authorized

Banks, savings banks, trust companies, savings and loan associations, executors, administrators, guardians, trustees, and other fiduciaries, the state of North Dakota and its political subdivisions, institutions, and agencies thereof, and all other persons, associations, and corporations subject to the laws of this state may invest the funds and moneys in their custody or possession eligible for investment in notes or bonds secured by mortgage or deed of trust insured by the federal housing administrator, in debentures issued by the federal housing administrator, and in securities issued by national mortgage associations.