9-4-919 - Corporation notes, bonds, obligations -- Legal investments.
9-4-919. Corporation notes, bonds, obligations -- Legal investments.
(1) The notes, bonds, and other obligations issued under the authority of this part aredeclared to be securities in which all public officers and public bodies of the state and its politicalsubdivisions, all banks, bankers, savings banks, trust companies, credit unions, savings and loanassociations, building and loan associations, investment companies, and other persons carrying ona banking business, all insurance companies and insurance associations, and others carrying on aninsurance business, and all administrators, executors, guardians, trustees, and other fiduciaries,pension, profit-sharing and retirement funds, and all other persons who may now or may later beauthorized to invest in notes, bonds, or other obligations of the state, may properly and legallyinvest any funds, including capital belonging to them or within their control.
(2) These notes, bonds, and other obligations are declared securities which may properlyand legally be deposited with and received by any state, county, or municipal officer, or agencyof the state for any purpose for which the deposit of notes, bonds, or other obligations of the stateis now or may later be authorized by law.
Amended by Chapter 319, 2001 General Session