§ 1120-l. Bonds legal investments for fiduciaries. The bonds of the
authority are hereby made securities in which all public officials and
bodies of the state and all municipalities, 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, investment companies and other
persons carrying on a banking business, and 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 to them. The
bonds are also hereby made securities which may be deposited with and be
received by all public officers and bodies of the state and all
municipalities for any purposes for which the deposit of bonds or other
obligations of the state is now or hereafter may be authorized.