§ 25-c. Investment in bond and mortgage or note and mortgage. The
term bond and mortgage or the term note and mortgage as heretofore or
hereafter used in any statute which prescribes or authorizes investment
therein, with or without a specified ratio of real property security,
shall be deemed to include a share or part of a bond and mortgage or of
a note and mortgage, as the case may be, prior in lien to all other
shares and parts thereof and, for all purposes in connection with such
an investment in a share or part, any specified ratio of real property
security shall be determined on the basis of the investment in such
share or part.