Skip to main content

Delaware Code Title 14. Education § 9213. Permissible investments

Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.

(a) Except as otherwise provided in this chapter, the Authority may invest funds in:

(1) Direct obligations of the United States;

(2) Obligations as to which the timely payment of principal and interest is fully guaranteed by the United States;

(3) Obligations of the federal intermediate credit banks, federal banks for cooperatives, federal land banks, federal home loan banks, federal national mortgage association and the government national mortgage association;

(4) Certificates of deposit or time deposits constituting direct obligations of any bank as defined by the laws of this State. However, investments may be made only in those certificates of deposit or time deposits in banks which are insured by the Federal Deposit Insurance Corporation or its successor if then in existence; and

(5) Withdrawable capital accounts or deposits of state or federal chartered savings and loan associations which are insured by the Federal Savings and Loan Insurance Corporation.

(b) Securities may be purchased at such time and at such prices as the Authority determines.

Cite this article: - Delaware Code Title 14. Education § 9213. Permissible investments - last updated January 01, 2022 |

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

Was this helpful?

Thank you. Your response has been sent.

Copied to clipboard