262A.11 - BONDS AS SECURITY FOR INVESTMENTS.
262A.11 BONDS AS SECURITY FOR INVESTMENTS.
All banks, trust companies, bankers, savings banks and
institutions, building and loan associations, savings and loan
associations, investment companies and other persons carrying on a
banking or 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 issued
pursuant to this chapter; provided, however, that nothing contained
in this section may be construed as relieving any persons from any
duty of exercising reasonable care in selecting securities for
purchase or investment. Section History: Early Form
[C71, 73, 75, 77, 79, 81, § 262A.11]