Title 50, Chapter 26, Section 11
( 50-26-11)
The bonds authorized by this chapter are securities in which: (1) All public officers and bodies of this state; (2) All local governments of this state; (3) All insurance companies and associations and other persons
carrying on an insurance business; (4) All banks, bankers, trust companies, saving 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 whomsoever who are authorized to invest in
bonds or other obligations of this state may properly and legally invest funds, including capital in their
control or belonging to them. Such bonds are also securities which
may be deposited with and shall be received by all public officers
and bodies of this state and local governments for any purpose for
which deposit of the bonds or other obligations of this state is
authorized. |