1.1    .................... moves to amend H. F. No. 2056 as follows:
1.2Page 1, after line 7, insert:

1.3    "Section 1. Minnesota Statutes 2006, section 47.19, is amended to read:
1.447.19 CORPORATION MAY BE MEMBER OR STOCKHOLDER OF
1.5FEDERAL AGENCY.
1.6    Any corporation is hereby empowered and authorized to become a member of,
1.7or stockholder in, any such agency, and to that end to purchase stock in, or securities
1.8of, or deposit money with, such agency and/or to comply with any other conditions of
1.9membership or credit; to borrow money from such agency upon such rates of interest, not
1.10exceeding the contract rate of interest in this state, and upon such terms and conditions
1.11as may be agreed upon by such corporation and such agency, for the purpose of making
1.12loans, paying withdrawals, paying maturities, paying debts, and for any other purpose not
1.13inconsistent with the objects of the corporation; provided, that the aggregate amount of the
1.14indebtedness, so incurred by such corporation, which shall be outstanding at any time shall
1.15not exceed 25 35 percent of the then total assets of the corporation; to assign, pledge and
1.16hypothecate its bonds, mortgages or other assets; and, in case of savings associations, to
1.17repledge with such agency the shares of stock in such association which any owner thereof
1.18may have pledged as collateral security, without obtaining the consent thereunto of such
1.19owner, as security for the repayment of the indebtedness so created by such corporation
1.20and as evidenced by its note or other evidence of indebtedness given for such borrowed
1.21money; and to do any and all things which shall or may be necessary or convenient in
1.22order to comply with and to obtain the benefits of the provisions of any act of Congress
1.23creating such agency, or any amendments thereto."
1.24Renumber the sections in sequence and correct the internal references
1.25Amend the title accordingly