§ 32-4-544 — Legal investments in securities

It shall be legal for any bank,
trust company, banker, savings bank, or banking institution; any building and loan
association, savings and loan association, or investment company; any other person
carrying on a banking or investment business; any insurance company, insurance
association, or other person carrying on an insurance business; and any executor,
administrator, curator, trustee, or other fiduciary to invest funds or moneys in their
custody in any of the securities authorized to be issued pursuant to the provisions
of this part 5. Public entities, as defined in section 24-75-601 (1), C.R.S., may invest
public funds in such bonds only if said bonds satisfy the investment requirements
established in part 6 of article 75 of title 24, C.R.S. Such securities shall be
authorized security for all public deposits. Nothing in this section with regard to
legal investments shall be construed as relieving any public body or other person of
any duty of exercising reasonable care in selecting securities.

Legislative History

Source: L. 62: p. 223, � 14. C.R.S. 1963: � 89-15-44. L. 89: Entire section amended, p. 1131, � 71, effective July 1.