Title 31, Chapter 7, Section 27
( 31-7-27)
The revenue bonds issued pursuant to this article are made
securities in which all public officers and bodies of this state and
all municipalities and all municipal subdivisions; all insurance
companies and associations and other persons carrying on an
insurance business; all banks, bankers, trust companies, savings
banks and savings associations, including savings and loan
associations, building and loan associations, investment companies,
and other persons carrying on a banking business; all
administrators, guardians, executors, trustees, and other
fiduciaries; and all other persons whatsoever who are now or may
hereafter be authorized to invest in bonds or other obligations of
the state may properly and legally invest funds including capital in
their control or belonging to them. The bonds are also made
securities which may be deposited with and shall be received by all
public officers and bodies of this state and all municipalities and
municipal subdivisions for any purpose for which the deposit of the
bonds or other obligations of this state is now or may hereafter be
authorized. |