§ 9–1111.09. Obligations as lawful investments.

(a) Obligations issued by the Transit Authority which are guaranteed by the Secretary of Transportation under § 9-1111.06 shall be lawful investments, and may be accepted as security for fiduciary, trusts, and public funds, the investment or deposit of which shall be under the authority or control of the United States or of any officer or officers thereof, and shall be deemed to be exempt securities within the meaning of laws administered by the Securities and Exchange Commission to the same extent as securities which are issued by the United States.

(b) Any building association, building and loan association, or savings and loan association, incorporated or unincorporated, organized and operating under the laws of the District of Columbia, or any federal savings and loan association, may invest its funds in obligations of the Transit Authority which are guaranteed by the Secretary of Transportation under § 9-1111.06.