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177.520 Turnpike bonds valid for purposes of investment or collateral.

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177.520 Turnpike bonds valid for purposes of investment or collateral. Bonds issued by the department under the provisions of KRS 177.390 to 177.570 are <br>hereby made securities in which all public officers and public bodies, agencies and <br>instrumentalities of the Commonwealth and its political subdivisions, all insurance <br>companies, trust companies, banking associations, investment companies, executors, <br>administrators, trustees and other fiduciaries, and all other persons whatsoever who are <br>now or may hereafter be authorized to invest in bonds or other obligations of a similar <br>nature may properly and legally invest funds, including capital in their control or <br>belonging to them. Such bonds are hereby made securities which may properly and <br>legally be deposited with and received by any state or municipal officer or any agency or <br>political subdivision of the Commonwealth for any purpose for which the deposit of <br>bonds or other obligations of the Commonwealth is now or may hereafter be authorized <br>by law. Effective: March 25, 1960 <br>History: Amended 1960 Ky. Acts ch. 174, sec. 8, effective March 25, 1960. -- Created 1950 Ky. Acts ch. 157, sec. 14.