(1) A bank may purchase, sell, underwrite, and hold investment securities that are
obligations in the form of bonds, notes, or debentures, as provided in rules adopted
by the department. In addition, unless limited by the department by rule, a bank may purchase, sell,
underwrite, and hold those investment securities that are derivative transactions
that national banks are expressly authorized to purchase, sell, underwrite, and hold. A bank may hold without limit investment securities that are general obligations
of the United States, obligations that are guaranteed fully as to principal and interest
by the United States, or general obligations of any state.
(2) The department shall adopt rules to implement this section.
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