§ 1949. 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, building 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 not 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. Notwithstanding any inconsistent provision of law,
the bonds 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 for any purposes for which the deposit of bonds or
other obligations of this state is now or hereafter may be authorized.