Notwithstanding any restriction contained in any other law, the State and all public
officers, municipalities, counties, political subdivisions and public bodies, and
agencies thereof, all banks, bankers, trust companies, savings banks and institutions,
building and loan associations, savings and loan associations, investment companies,
and other persons carrying on a banking business, all insurance companies, insurance
associations and other persons carrying on an insurance business, and all executors,
administrators, guardians, trustees and other fiduciaries, may legally invest any
sinking funds, moneys or other funds belonging to them or within their control in
any bonds, and such bonds shall be authorized security for any and all public deposits.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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