Investments in agricultural credit corporations and livestock loan companies

Any bank may purchase and own stock and capital notes or other evidence of debt issued by: (1) An agricultural credit corporation or livestock loan company, or its affiliate, the principal business of which corporation is the extension of short and intermediate term credit to farmers and ranchers, including partnerships and corporations legally engaged in farming as defined in subdivision 47-9A-2(4) in accordance with the provisions of chapter 47-9A ; and (2) Exempt corporations as provided in §§ 47-9A-10 and