Section 446. Exemptions

Latest version.

The bonds and notes issued by the savings and loan
  bank and the savings and loan bank itself, together  with  its  capital,
  accumulations  and funds, shall have the same exemption from taxation as
  other institutions for savings. No law which taxes corporations  in  any
  form,  or  the  shares  thereof,  or the accumulations therein, shall be
  deemed to include the savings and loan bank or its issues  of  bonds  or
  notes unless they are specifically named in such law.

                    
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