Sec. 7-496. Notes and bonds made securities.
Sec. 7-496. Notes and bonds made securities. The notes and bonds of municipalities are hereby made securities in which all public officers and bodies of this state and
all municipalities and municipal subdivisions, all insurance companies and associations
and other persons carrying on an insurance business, all banks, bankers, trust companies,
savings banks and savings associations, including savings and loan associations, investment companies and other persons carrying on a banking business, all administrators,
guardians, executors, trustees and other fiduciaries, and all other persons whatsoever
who are now or may hereafter be authorized to invest in bonds or in other obligations
of the state, may properly and legally invest funds, including capital, in their control or
belonging to them. The notes and bonds are also hereby made securities which may be
deposited with and may be received by all public officers and bodies of the state and
all municipalities for any purpose of which the deposit of bonds or other obligations of
the state is now or may hereafter be authorized.
(July Sp. Sess. P.A. 75-2, S. 17, 25; P.A. 80-483, S. 22, 186.)
History: P.A. 80-483 deleted reference to building and loan associations.