State Codes and Statutes
Statutes > Maine > Title20a > Title20-Ach417-Fsec0 > Title20-Asec11499Title 20-A: EDUCATION
Part 5: POST-SECONDARY EDUCATION
Chapter 417-F: HIGHER EDUCATION LOAN PURCHASE PROGRAM HEADER: PL 2003, C. 455, §2 (NEW)
§11499. Bonds as legal investments
Bonds issued by the authority under this chapter are securities in which all public officers and public bodies of the State and its political subdivisions; insurance companies and associations and other persons carrying on an insurance business; trust companies, banks, bankers, banking associations, savings banks and savings associations, including savings and loan associations; financial institutions; credit unions; building and loan associations; investment companies; executors, administrators, trustees and other fiduciaries; pension, retirement funds and profit-sharing plans; other persons carrying on a banking business; and all other persons may properly and legally invest funds, including capital in their control or belonging to them. These bonds are made securities that may properly and legally be deposited with and received by any state, municipal or public officer or any agency or political subdivision of the State for any purpose for which the deposit of bonds or other obligations of the State is now or may hereafter be authorized by law. [2003, c. 455, §2 (NEW).]
SECTION HISTORY
2003, c. 455, §2 (NEW).
