Notwithstanding any other statute, the notes or other interest-bearing obligations of any corporation organized under sections 301.71 to 301.84, issued in accordance with sections 301.71 to 301.84 and the articles of incorporation and the bylaws of the corporation shall be legal investments for any banks, savings banks, savings associations, trust companies, stock or mutual insurance companies or other financial institutions which become members of the corporation.
1957 c 896 s 14; 1995 c 202 art 1 s 25
Structure Minnesota Statutes
Chapters 300 - 323A — Business, Social, And Charitable Organizations
Chapter 301 — Development Corporations
Section 301.71 — Development Corporations.
Section 301.74 — Publication Of Certificate.
Section 301.75 — Additional Powers.
Section 301.76 — Capital Stock.
Section 301.78 — Nonstockholder Members.
Section 301.79 — Earned Surplus.
Section 301.80 — Limitations On Obligations.
Section 301.81 — Deposit Of Funds.
Section 301.82 — Supervision And Examination.
Section 301.83 — Rights Of Holders Of Capital Stock.
Section 301.84 — Obligations Are Legal Investments For Members.