§206J-15  Bonds as legal investments and
lawful security.  Bonds issued pursuant to this chapter shall be and are
declared to be legal and authorized investments for banks, savings banks, trust
companies, savings and loan associations, insurance companies, fiduciaries,
trustees, guardians, and for all public funds of the State or other political
corporations or subdivisions of the State.  Such bonds shall be eligible to
secure the deposit of any and all public funds of the State and any and all
public funds of counties or other political corporations or subdivisions of the
State, and such bonds shall be lawful and sufficient security for such deposits
to the extent of their value when accompanied by all unmatured coupons
appertaining thereto. [L 1981, c 236, pt of §1; ree L 1986, c 146, §12]