Title 42, Chapter 3, Section 21
( 42-3-21)
The bonds authorized in this chapter are made securities in which
(1) all public officers and bodies of this state, (2) all
municipalities and all municipal subdivisions, (3) all insurance
companies and associations and other persons carrying on an
insurance business, (4) 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, (5) all
administrators, guardians, executors, trustees, and other
fiduciaries, and (6) all other persons whatsoever who may 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 authorized. |