§ 1863. Bonds and notes legal investments for fiduciaries. The bonds
and notes are hereby made securities in which all public officers and
bodies of the 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, savings associations, including savings and loan associations and
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 who 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.
Notwithstanding any other provisions of law, the bonds and notes of the
authority are also hereby made securities which may be deposited with
and may be received by all public officers and bodies of this state and
all municipalities and municipal subdivisions for any purpose for which
the deposit of bonds or other obligations of the state is now or may
hereafter be authorized.