Meaning of “obligor or maker” in determining limitation on securities investments by member State banks.

CFR · 2024-01-01 · US · Title 12

(a) From time to time the New York State Dormitory Authority offers issues of bonds with respect to each of which a different educational institution enters into an agreement to make (b) Paragraph Seventh of section 5136 of the U.S. Revised Statutes (12 U.S.C. 24) provides that “In no event shall the (c) The Board considers that, within the meaning of these provisions of law, (d) Review of the New York Dormitory Authority Act (N.Y. Public Authorities Law sections 1675-1690), the Authority's interpretation thereof, and materials with respect to the Authority's “Revenue Bonds, Mills College of Education Issue, Series A” indicates that the Authority is not an (e) Accordingly, the Board has concluded that each college for which the Authority issues obligations is the sole

official document · source cfr-2024 · id 12:§ 250.142