12-5232.   Bonds as legal investments.Notwithstanding any other provision of law, bonds issued pursuantto this act shall be legal investments for all trust funds, insurance companies,savings and loan associations, investment companies and banks, both savingsand commercial, and shall be legal investments for executors, administrators,trustees and all other fiduciaries. Such bonds shall be legal investmentsfor state school funds and for any funds which may be invested in county,municipal or school district bonds, and such bonds shall be deemed to besecurities which may properly and legally be deposited with, and receivedby, any state or municipal officer or by any agency or political subdivisionof the state for any purpose for which the deposit of bonds or obligationsof the state is now, or may hereafter, be authorized by law, including depositsto secure public funds.

      History:   L. 1982, ch. 60, § 14; April 22.