Sec. 31.4. Student Loan Marketing Association

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Any bank or trust company is permitted to invest in and hold shares of stock of the Student Loan Marketing Association. Any bank or trust company is further permitted to act as underwriter for such stock, unless the Board of Governors of the Federal Reserve System determines that such stock is not eligible for underwriting by banks under title 12 of the United States Code. Such investment, holding, or underwriting by any bank or trust company shall not exceed in total amount two percent of the capital stock and surplus of such bank or trust company.

                    
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