59-5-63 - Bonds as legal investments and securities for deposits of public funds.
§ 59-5-63. Bonds as legal investments and securities for deposits of public funds.
All bonds issued under the provisions of this chapter shall be legal investments for trustees and other fiduciaries, and for savings banks, trust companies, the board of trustees of the public employees' retirement system, and insurance companies organized under the laws of the State of Mississippi, and such bonds shall be legal securities which may be deposited with and shall be received by all public officers and bodies of this state and all municipalities and political subdivisions for the purpose of securing the deposit of public funds.
Sources: Codes, 1942, § 7564-23; Laws, 1958, ch. 365, § 23, eff from and after passage (approved April 28, 1958).