Investments in equipment trust certificates
(1) A savings bank may invest the funds mentioned in ORS 716.410 (Limitations on investments) in equipment trust certificates that are, at the time of purchase, rated in one of the three highest grades by a recognized investment service organization that has been engaged regularly and continuously for a period of not less than 10 years in rating bonds.
(2) Not more than 15 percent of the assets of a savings bank may be invested under this section and not more than three percent of its assets may be invested in any one corporation. [1959 c.185 §11 (enacted in lieu of 716.440); 1973 c.797 §368]
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