Pennsylvania Statutes Title 55 P.S. Navigation § 698.29. Deposits

(1) Direct obligations of or obligations guaranteed by the United States or the Commonwealth of Pennsylvania.

(2) Any bond, debenture, note, participation certificate or other similar obligation issued by any one or combination of the following agencies: Government National Mortgage Corporation, Federal Land Banks, Federal Home Loan Banks, Federal Intermediate Credit Banks, Banks for Cooperatives, Tennessee Valley Authority, United States Postal Service, Farmers Home Association, the Student Loan Marketing Association and Export-Import Bank of the United States.

(3) Any bond, debenture, note, participation certificate or other similar obligation issued by the Federal National Mortgage Corporation to the extent such obligations are guaranteed by the Government National Mortgage Corporation or issued by any other Federal agency and backed by the full faith and credit of the United States.

(4) Deposits in interest-bearing time or demand deposits or certificates of deposit, fully insured by the Federal Deposit Insurance Corporation, or its successors, or the Federal Savings and Loan Insurance Corporation, or its successors, or fully secured to the extent not so insured by any of the obligations described in paragraphs (1), (2) and (3) which have at all times an aggregate market value exclusive of accrued interest at least equal to the balance on deposit.

(5) Repurchase agreements relating to or investment agreements secured by or providing for the acquisition of and, if applicable, resale of obligations described in paragraphs (1) through (4) or obligations of the Federal Home Loan Mortgage Corporation or Federal National Mortgage Association with:

(6) Money market deposit accounts of banks or trust companies having a net capital and surplus of at least $25,000,000 (which may include any banking entity or depository).