(a) Bonds issued under the provisions of this title are securities in which all of the following may legally and properly invest funds, including capital in their control or belonging to them:
(1) Public officers and public agencies of the State and its political subdivisions;
(2) Banks, trust companies, savings and loan associations, investment companies, and others carrying on a banking business;
(3) Insurance companies and insurance associations and others carrying on an insurance business;
(4) Administrators, executors, guardians, trustees, and other fiduciaries; and
(5) All other persons.
(b) The bonds are securities which may properly and legally be deposited with and received by any State or municipal office or any agency or political subdivision of the State for any purpose for which the deposit of bonds or other obligations of the State is now or hereafter authorized by law.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
