§ 872 — Bonds and notes as legal investment

§ 872. Bonds and notes as legal investment. The bonds and notes are\nhereby made securities in which all public officers and bodies of this\nstate and all municipalities and municipal subdivisions, all insurance\ncompanies and associations and other persons carrying on an insurance\nbusiness, all banks, bankers, trust companies, savings banks and savings\nassociations, including savings and loan associations, building and loan\nassociations, investment companies and other persons carrying on a\nbanking business, and all other persons whatsoever except as hereinafter\nprovided, who are now or may hereafter be authorized to invest in bonds\nor notes or other obligations of the state, may properly and legally\ninvest funds including capital in their control or belonging to them.\nThe bonds or notes are also hereby made securities which may be\ndeposited with and shall be received by all public officers and bodies\nof this state and all municipalities and municipal subdivisions for any\npurpose for which the deposit of bonds or other obligations of this\nstate is now or may hereafter be authorized.\n