The notes of the commission are hereby made securities in which all public officers
and bodies of this state, and all municipalities and municipal subdivisions, all insurance
companies and associations, and other persons carrying on an insurance business, all
banks, bankers, trust companies, savings banks and savings associations, including
savings and loan associations, building and loan associations, investment companies
and other persons carrying on a banking business, all administrators, guardians, executors,
trustees and other fiduciaries, and all other persons whatsoever, who are now or may
hereafter be authorized to invest in bonds or other obligations of the state, may
properly and legally invest funds, including capital, in their control or belonging
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