§ 45-33-15 Bonds as legal investments.– Notwithstanding any restrictions on investments contained in any laws of thisstate, the state and all public officers, municipal corporations, politicalsubdivisions, and the public bodies, all banks, bankers, trust companies,savings banks and institutions, building and loan associations, savings andloan associations, investment companies, and other persons carrying on abanking business, and all insurance companies, insurance associations, andother persons carrying on an insurance business, may legally invest any sinkingfunds, moneys, or other funds, belonging to them or within their control, inany bonds or other obligations issued by an agency, as herein defined, andthose bonds and other obligations shall be authorized security for all publicdeposits; it being one of the purposes of chapters 31 – 33 of this title,to authorize all persons, firms, corporations, associations, politicalsubdivisions, bodies, and officers, public or private, to use any funds ownedor controlled by them including, but not limited to, sinking, insurance,investment, retirement, compensation, pension, and trust funds, and any fundsheld on deposit, for the purchase of any bonds or other obligations; provided,that nothing contained in chapters 31 – 33 of this title, shall beconstrued as relieving any person, firm, or corporation from any duty ofexercising reasonable care in selecting securities.
§ 45-33-15 Bonds as legal investments.– Notwithstanding any restrictions on investments contained in any laws of thisstate, the state and all public officers, municipal corporations, politicalsubdivisions, and the public bodies, all banks, bankers, trust companies,savings banks and institutions, building and loan associations, savings andloan associations, investment companies, and other persons carrying on abanking business, and all insurance companies, insurance associations, andother persons carrying on an insurance business, may legally invest any sinkingfunds, moneys, or other funds, belonging to them or within their control, inany bonds or other obligations issued by an agency, as herein defined, andthose bonds and other obligations shall be authorized security for all publicdeposits; it being one of the purposes of chapters 31 – 33 of this title,to authorize all persons, firms, corporations, associations, politicalsubdivisions, bodies, and officers, public or private, to use any funds ownedor controlled by them including, but not limited to, sinking, insurance,investment, retirement, compensation, pension, and trust funds, and any fundsheld on deposit, for the purchase of any bonds or other obligations; provided,that nothing contained in chapters 31 – 33 of this title, shall beconstrued as relieving any person, firm, or corporation from any duty ofexercising reasonable care in selecting securities.
§ 45-33-15 Bonds as legal investments.– Notwithstanding any restrictions on investments contained in any laws of thisstate, the state and all public officers, municipal corporations, politicalsubdivisions, and the public bodies, all banks, bankers, trust companies,savings banks and institutions, building and loan associations, savings andloan associations, investment companies, and other persons carrying on abanking business, and all insurance companies, insurance associations, andother persons carrying on an insurance business, may legally invest any sinkingfunds, moneys, or other funds, belonging to them or within their control, inany bonds or other obligations issued by an agency, as herein defined, andthose bonds and other obligations shall be authorized security for all publicdeposits; it being one of the purposes of chapters 31 – 33 of this title,to authorize all persons, firms, corporations, associations, politicalsubdivisions, bodies, and officers, public or private, to use any funds ownedor controlled by them including, but not limited to, sinking, insurance,investment, retirement, compensation, pension, and trust funds, and any fundsheld on deposit, for the purchase of any bonds or other obligations; provided,that nothing contained in chapters 31 – 33 of this title, shall beconstrued as relieving any person, firm, or corporation from any duty ofexercising reasonable care in selecting securities.
