§ 565. Bonds legal investments for fiduciaries. The bonds 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 saving
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 to them. The bonds are also hereby made securities
which may be deposited with and shall 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 this state is now or may hereafter be authorized.