Admin. R. Mont. 2.59.2052 – U.S. Treasury and U.S. Government Agency Issues

(1) There is no dollar limit on a mutual association's investment in the following U.S. treasury securities:
1. (a) bonds;
2. (b) notes; or
3. (c) bills.
(2) There is no dollar limit on a mutual association's investment in U.S. treasury bonds and notes in the form of separate trading of registered interest and principal of securities (STRIPS).
(3) There is no dollar limit on a mutual association's investment in the following U.S. government agency ordinary debt issues:
1. (a) farm credit system (FCS):
  1. (i) consolidated FCS bonds;
  2. (ii) federal land bank bonds (FLB);
  3. (iii) federal intermediate credit bank bonds (FICB);
  4. (iv) banks for cooperatives bonds (BC); and
  5. (v) federal agricultural mortgage corporation (FAMC);
2. (b) farmers home administration (FmHA);
3. (c) federal housing administration (FHA);
4. (d) federal home loan banks (FHLB);
5. (e) federal home loan mortgage corporation (FHLMC);
6. (f) federal national mortgage association (FNMA);
7. (g) student loan marketing association (SLMA); and
8. (h) United States postal service (USPS).
(4) There is no dollar limit on a mutual association's investment in the following U.S. government agency mortgage-backed securities (MBS), collateralized mortgage obligations (CMOs), and real estate mortgage investment conduits (REMICs):
1. (a) instruments issued by the federal home loan mortgage association (FHLMC);
2. (b) instruments issued by the federal national mortgage association (FNMA);
3. (c) instruments issued by the government national mortgage association (GNMA);
4. (d) instruments issued by the federal agricultural mortgage corporation (FAMC);
5. (e) FHLMC MBS pass through securities (PCs);
6. (f) GNMA I, single issuer pass through PCs; and
7. (g) GNMA II, single and multiple issuer pass through PCs.

Authorizing statute(s): 32-2-701, 32-2-704, 32-2-908, MCA

Implementing statute(s): 32-2-701, 32-2-704, 32-2-908, MCA

History: NEW, 2022 MAR p. 230, Eff. 2/12/22.