260C.64 - WHO MAY INVEST.
260C.64 WHO MAY INVEST.
All banks, trust companies, building and loan associations,
savings and loan associations, investment companies, and other
persons carrying on an investment business, all insurance companies,
insurance associations, and other persons carrying on an insurance
business, and all executors, administrators, guardians, trustees, and
other fiduciaries may legally invest any sinking funds, moneys or
other funds belonging to them or within their control in any bonds or
notes issued pursuant to this division. However, this section shall
not be construed as relieving any persons from any duty of exercising
reasonable care in selecting securities for purchase or investment.
Section History: Recent Form
90 Acts, ch 1253, §66
C91, § 280A.64
C93, § 260C.64