1. (1) A bank may purchase, own and hold, and sell or otherwise dispose of:

   1. (a) shares of the Federal Reserve Bank of the Twelfth Federal Reserve District;
   2. (b) the stock of a corporation organized under the laws of the United States for purposes similar to those of the federal reserve banks or the Federal Deposit Insurance Corporation;
   3. (c) shares of the Federal National Mortgage Association;
   4. (d) the stock of a safe deposit company;
   5. (e) the stock of a corporation owning the banking house in which any place of business of the bank is located;
   6. (f) the stock of a bank service corporation performing services for the bank;
   7. (g) the stock of a corporation acquired by the bank in satisfaction of or on account of debts previously contracted in the course of the bank's business;
   8. (h) the stock of a foreign banking corporation;
   9. (i) the stock of a corporation authorized under Title IX of the Housing and Urban Development Act of 1968;
   10. (j) the stock of the Government National Mortgage Association authorized under 12 U.S.C. Sec. 1716 et seq.;
   11. (k) the stock of a charitable foundation;
   12. (l) the stock of a community development corporation;
   13. (m) the stock of bankers' banks; and
   14. (n) the stock of an agricultural credit corporation.
2. (2) A bank may invest in a small business investment company to the same extent allowed federally chartered banks.
3. (3) Unless expressly authorized by this chapter, a bank may not purchase or own the stock of any other corporation except in a fiduciary capacity.

Amended by Chapter 97, 2014 General Session