Secondary mortgage funds; additional definitions

As used in the Mortgage Finance Authority Act: A. "pass-through securities" means securities representing undivided ownership interests in a pool of mortgage loans; and B. "secondary market facility" means a corporation, trust or other form of legal entity established by the authority for the purpose of the purchase, with private or public funds legally available therefor, of mortgage loans, mortgage-backed obligations, pass- through securities or interests therein. History: 1978 Comp., § 58-18-3.2, enacted by Laws 1983, ch. 285, § 1; 1995, ch. 9, § 5.