§ 2046-m. Bonds and notes as legal investments. The bonds and notes
are hereby made securities in which all public officers and bodies of
this 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, trusts, estates, or guardianships under the
control of individual administrators, guardians, executors, trustees and
other individual fiduciaries, and other persons carrying on a banking
business, and all other persons whatsoever, who are now or may hereafter
be authorized to invest in bonds or notes or other obligations of the
state, may properly and legally invest funds including capital in their
control or belonging to them. The bonds or notes 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 purpose
for which the deposit of bonds or notes or other obligations of this
state is now or may hereafter be authorized.