State Codes and Statutes

Statutes > Utah > Title-53b > Chapter-21 > 53b-21-107

53B-21-107. Investment in bonds by private and public entities -- Approval ascollateral security.
(1) Any bank, savings and loan association, trust, or insurance company organized underthe laws of this state or federal law may invest its capital and surplus in bonds issued under thischapter.
(2) The officers having charge of a sinking fund or any county, city, town, township, orschool district may invest the sinking fund in bonds issued under this chapter.
(3) The bonds shall also be approved as collateral security for the deposit of any publicfunds and for the investment of trust funds.

Enacted by Chapter 167, 1987 General Session