It shall be lawful for all savings and loan associations and insurance companies doing business in the State of Arkansas and for all trustees, guardians of the estates of minors and insane persons, executors, or administrators to invest their funds in notes, bonds, debentures, or other similar obligations issued by the Federal Land Banks, Federal Intermediate Credit Banks, or banks for cooperatives or any other obligations issued pursuant to the provisions of the Farm Credit Act of 1971 and acts amendatory thereto.