Legislation

Search OpenLegislation Statutes

This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
SECTION 2063
Bonds legal investments for public officers and fiduciaries
Public Authorities (PBA) CHAPTER 43-A, ARTICLE 8, TITLE 14
* § 2063. Bonds legal investments for public officers and fiduciaries.
The bonds are hereby made securities in which all public officers and
bodies of this state and all municipalities and 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,
investment companies and other persons carrying on a banking business
and all other persons whatsoever, except as hereinafter provided, 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; provided that,
notwithstanding the provisions of any other general or special law to
the contrary, such shall not be eligible for the investment of funds,
including capital, trusts, estates or guardianships under the control of
individual administrators, guardians, executors, trustees and other
individual fiduciaries. The bonds are also hereby made securities which
may be deposited with and may 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 bonds or other obligations of
this state is now or may hereafter be authorized.

* NB Authority dissolved September 1, 1977