Section 10-219 - Revenue bonds - Legal investments.

§ 10-219. Revenue bonds - Legal investments.
 

Bonds are securities: 

(1) in which any of the following persons may legally and properly invest money, including capital that the person owns or controls: 

(i) an officer or unit of the State or a political subdivision; 

(ii) a bank, trust company, savings and loan association, investment company, or other person conducting a banking business; 

(iii) an insurance company, insurance association, or other person conducting an insurance business; 

(iv) a personal representative, guardian, trustee, or other fiduciary; and 

(v) any other person; and 

(2) that may be deposited with and received by a unit of the State or a political subdivision for any purpose for which the deposit of bonds or other obligations of the State is authorized by law. 
 

[An. Code 1957, art. 41, § 13-114; 2008, ch. 306, § 2.]