§ 35-8.1-22 - Bonds constitute legal investment.
SECTION 35-8.1-22
§ 35-8.1-22 Bonds constitute legalinvestment. – Bonds issued by the authority under the provisions of this chapter aresecurities in which all public officers and public bodies of the state and itspolitical subdivisions, insurance companies, trust companies, bankingassociations, investment companies, credit unions, building and loanassociations, executors, administrators, trustees, and other fiduciaries mayproperly and legally invest funds, including capital in their control orbelonging to them. The bonds are securities which may properly and legally bedeposited with and received by any state or municipal officer or any agency orpolitical subdivision of the state for any purpose for which the deposit ofbonds or obligations is authorized by law.