§ 5-1-4-24 — Legal investments

Legal Investments. Revenue bonds issued by
an Authority under the provisions of this chapter shall constitute legal
investments for any private trust funds, and the funds of any banks,
trust companies, insurance companies, building and loan associations,
credit unions, banks of discount and deposit, savings banks, loan and
trust and safe deposit companies, rural loan and savings associations,
guaranty loan and savings associations, mortgage guaranty companies,
small loan companies and industrial loan and investment companies,
and any other financial institutions organized under the laws of the
state of Indiana. Such bonds are hereby made securities in which all
public officers and public agencies of the state and its political
subdivisions may legally and properly invest funds and such bonds may
be properly and legally deposited with and received by any state or
municipal officer 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 may hereafter be authorized by law.
Formerly: Acts 1971, P.L.41, SEC.1; Acts 1972, P.L.10, SEC.1.
As amended by P.L.42-1993, SEC.1.