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In the absence of a demand for loans or in the regular course of business, accumulations of funds may be invested as follows:\n(1) cash on hand;\n(2) deposit in any bank or trust company incorporated under the laws of this territory or national banking association having its principal place of business in this territory and in the Federal Home Loan Bank;\n(3) in any financial institution doing business in any of the states of the United States when such deposits are insured by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation;\n(4) obligations of the United States, whether direct or indirect;\n(5) an amount not to exceed 10 percent of the assets of an association in bonds and notes of any of the states of the United States or in the securities issued by the Federal Home Loan Bank system;\n(6) on vote of two-thirds of the directors such accumulation may also be invested in notes of other associations incorporated under the provisions of this subchapter, with first mortgages as collateral, provided such loans shall not exceed two-thirds of the value of the mortgages taken as collateral, and not more than 10 percent of the assets of any

is subchapter, with first mortgages as collateral, provided such loans shall not exceed two-thirds of the value of the mortgages taken as collateral, and not more than 10 percent of the assets of any association shall be loaned to another association;\n(7) an association may purchase and maintain real estate for its use and occupancy in the transaction of its business when authorized so to do by a two-thirds vote of its board of directors and a two-thirds vote of its shareholders voting at a meeting of the shareholders duly warned for that purpose, the cost of the same not to exceed 6 percent of its share accounts.